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US: Jos. A. Bank, Men’s Wearhouse battle comes to a close

By  |  June 1, 2014

The merger battle between menswear retailers Jos. A. Bank and Men’s Wearhouse has come to a close as the Federal Trade Commission gave its approval for Men’s Wearhouse to acquire its rival.

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    The merger followed months of debate between the two companies over which would acquire the other. Jos. A. Bank had originally looked to acquire Men’s Wearhouse, launching a five-month battle between the two companies.

    Jos. A. Bank first offered to acquire Men’s Wearhouse for $2.3 billion last October.

    But Men’s Wearhouse reached a deal last March to acquire its competitor for $1.8 billion.

    According to the FTC, the two retailers have different consumer targets and will continue to face significant competition in the industry, including from online menswear competitors.

    Full content: Business Insider

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