Capri, Albertsons jump on hopes of easier M&A scrutiny as Trump wins
Updates
** Versace-parent Capri shares CPRI.N up 4% at $21.34 after Donald Trump elected U.S. president, while grocery chain Albertsons ACI.N up 1.7% at $18.86
** The companies' buyout deals have faced tough scrutiny from U.S. anti-trust regulators under the Bidenadministration
** U.S. Federal Trade Commission in August argued to block Kroger's KR.N $25 bln deal for ACI, citing a likely surge in grocery prices while a pending $8.5 bln merger of Tapestry TPR.N and Capri was blocked last month
** Trump may prefer settling with companies over competition issues in mergers, rather than new trials, attorneys have told Reuters
** "Regulatory oversight on topics including retail market power is likely to be reduced in the new administration, which could increase the chances for M&A efforts such as Kroger/Albertsons to consummate," says David Silverman, retail analyst at Fitch Ratings
** ACI stock down 19%, CPRI down 59% as of last close YTD
Reporting by Savyata Mishra and Juveria Tabassum in Bengaluru
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