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Luxury company acquisition blocked by federal judge

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A federal judge has blocked the planned combination of luxury companies Tapestry and Capri.

Judge Jennifer Rochon granted a preliminary injunction to block the deal that was proposed by the Federal Trade Commission over antitrust concerns.

Tapestry, owner of Coach, is seeking to buy Capri, owner of Michael Kors, for $8.5 billion.

Read more from Reuters.

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