Men's Wearhouse to pay $1.8B for Jos. A. Bank

03/11/2014 | SCT Newswire

Men's Wearhouse and Jos. A. Bank ended their six-month merger dance Tuesday with the announcement that the former would acquire the latter in a deal valued at $1.8 billion. Jos. A. Bank began as the suitor when it made an unsolicited $2.4 billion bid to buy its rival in October. Men's Wearhouse responded with a bid to purchase Jos. A. Bank. and increased its purchase offer two times before both boards of directors agreed upon the terms. The combined company will operate more than 1,700 U.S. stores and boast $3.5 billion in annual sales. Jos. A. Bank will keep its name.

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