** Shares of Michael Kors owner Capri Holdings down ~2% at $37.10 in early trading
** Tapestry shares down ~3% at $39.21 in early trading
** U.S. Federal Trade Commission $(FTC.UK)$ sued to block $8.5 bln merger of CPRI and Coach parent TPR after market close on Monday
** "The proposed merger threatens to deprive millions of American consumers of the benefits of Tapestry and Capri's head-to-head competition" - U.S. FTC
** TPR and CPRI said on Monday they disagreed with FTC's decision
** CPRI adds, we remain confident in the combination and value the merger will bring to all stakeholders
** Since the deal was announced last Aug, CPRI shares have gained 9.7% up to last close, while TPR has dipped 2.26%
(Reporting by Anuja Bharat Mistry in Bengaluru)
((AnujaBharat.Mistry@thomsonreuters.com))
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