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.
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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