Prada tentative deal to acquire Versace from Capri at risk, WSJ reports

Prada (PRDSY) has a tentative deal to acquire Versace from Capri (CPRI) for roughly $1.4B, which could be announced as soon as Thursday morning, but Versace’s namesake family still have yet to sign off on the agreement and talks are “at risk of collapsing at the eleventh hour with financial markets in historic turmoil,” people familiar with the matter told The Wall Street Journal’s Ben Dummett. As of Wednesday morning, “the likelihood of a deal was still 50-50,” The Journal quotes one of its sources as having said.