Antitrust issues a risk for menswear merger battle

Print
Email
|

Associated Press

Posted on February 2, 2014 at 8:02 PM

Updated Sunday, Feb 2 at 8:02 PM

Jos. A. Bank is raising doubts about whether the federal government will approve the takeover bid by rival clothier Men's Wearhouse.

On Sunday, Jos. A. Bank Clothiers said that Men's Wearhouse had yet to explain why the Federal Trade Commission would approve the proposed combination because of antitrust concerns.

The two retailers have been dueling since October when Jos. A. Bank, based in Hampstead, Md., offered $2.3 billion for Men's Wearhouse.

Men's Wearhouse, based in Fremont, Calif., rejected that bid and also cited antitrust issues. It then countered with a $1.61 billion offer to buy Jos. A. Bank. That offer was rejected last month, leading Men's Wearhouse to send a letter Thursday saying it would be willing to raise its offer.

Print
Email
|