Capri (CPRI) has connected with investors potentially interested in buying the business, Women's Wear Daily reported Tuesday, citing people familiar with the matter.
While the process remains informal and a banker said that a deal would not happen in the "near term," at least some potential acquirers have reviewed the company's books, according to the report.
A hurdle to a deal could be the $809 million in derivative liabilities that sources said would come due immediately in a change of control, the report said.
Shares of Capri were up more than 9% in Tuesday trading.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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