US: Men's Wearhouse and Jos A Bank deal given green light
Men's Wearhouse secured the US$1.8bn deal in March following a five-month merger tussle between the two firms.
In an open letter at the weekend, the FTC said no further action was warranted by the Commission and that the investigation had been closed.
In a further blog post, the FTC concluded that despite limited competition from the internet, the transaction is unlikely to harm consumers because of significant competition from other sources.
"There are numerous competitors that sell suits across the range of prices of the suits the merging parties offer, including Macy's, Kohl's, JC Penney's, Nordstrom, and Brooks Brothers, among others," it noted.
The deal is expected to close within 30 days. Men's Wearhouse operates five stores in the Orlando area, and Jos A Bank also has five stores.
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