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JOSB, MW: Men’s Wearhouse to (Finally) Buy Jos. A. Bank for $1.8B

Men's Wearhouse is paying $65/share in cash

   

Men’s Wearhouse (MW) agreed to buy rival Jos. A. Bank Clothiers (JOSB) on Tuesday.

JOSBThe deal was finally completed after much deliberation over the weekend which values Jos. A. Bank at $1.8 billion. Men’s Wearhouse will pay $65 a share in cash for the affordable menswear retailer.

The combined company is expected to be the fourth-largest men’s apparel retailer in the United States. The new Men’s Wearhouse is expected to generate annual revenue of about $3.5 billion.

Jos. A. Bank attempted to acquire Men’s Wearhouse in October for $48 a share — or $2.3 billion — but Men’s Wearhouse rejected the bid.

MW stock is up a whopping 5.8% Tuesday. JOSB stock is up about 4.03%.


Article printed from InvestorPlace Media, http://investorplace.com/2014/03/josb-mw-mens-wearhouse-jos-a-bank/.

©2017 InvestorPlace Media, LLC