The Federal Trade Commission has given a thumbs-up to the merger of Men’s Wearhouse Inc. and Jos. A. Bank Clothiers Inc., saying it was “not likely to harm consumers because of competition from other sources.”
Men’s Wearhouse said Friday that the FTC granted a termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, clearing the way for the $1.8 billion merger to proceed. Under the terms of the deal, Men’s Wearhouse will acquire all outstanding shares of common stock of Jos. A. Bank for $65 a share in cash. Once the merger is finalized, the combined company will have more than 1,700 stores and sales of $3.5 billion.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)