Mr Ebner would have had only a small role in the merged group, one theory goes, which is why he was probably only too happy to see the deal fail and played his part in ensuring that it did.

ECONOMIST: Cross-border mergers

Ozertem said that one plausible theory is the group is trying to send a message to Turkish authorities by attacking the U.S. Embassy because it is near the Turkish parliament building.

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In one room a group of young men are looking over some Theory menswear samples.

WSJ: A Homegrown Fashion Mogul