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

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

   

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

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

josabanklogo JOSB, MW: Mens Wearhouse to (Finally) Buy Jos. A. Bank for $1.8BThe 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/.

©2014 InvestorPlace Media, LLC

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