Prada Strikes $1.4 Billion Deal for Versace
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Prada said it would acquire Versace from fashion conglomerate Capri Holdings for $1.38 billion, salvaging a deal that was at risk of collapsing because of the market upheaval. The deal was announced Thursday, confirming an earlier report by The Wall Street Journal. President Trump’s escalating trade war had been wreaking havoc across Wall Street and forcing companies to rethink big decisions, with the retail industry being hit particularly hard.
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