Men's Wearhouse was given the go ahead to acquire rival Joseph A. Bank by regulators at the Federal Trade Commission. The FTC cited ample competition and differing customer bases as reasons for its approval. Regulators say that Men's Wearhouse skews towards younger, trendier customers while Jos. A Bank tends to skew towards older customers. Men's Wearhouse agreed to purchase the retailer for $1.8 billion in May, 5 months after Jos. A Bank proposed to purchase Men's Wearhouse for $2.3 billion. Shares of Men's Wearhouse closed trading on Friday up 3.1% to $49.78 while shares of Jos. A Bank were up 1.3% to $64.95.
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