Men's Wearhouse seals $1.8 billion deal to buy Jos. A. Bank

Reuters News
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Posted: Mar 11, 2014 12:20 PM

(Reuters) - Men's Wearhouse Inc said it would acquire rival Jos. A. Bank Clothiers Inc for about $1.8 billion, ending a five-month merger saga that started with Jos. A. Bank offering to buy its larger menswear rival.

The increased offer price of $65 per share represents a premium of 5.1 percent to Jos. A. Bank's Monday closing price.

(This story has been refiled to make correction in paragraph 2 to say the offer is at a premium of 5.1 percent, not 1.3 percent)

(Reporting by Siddharth Cavale in Bangalore; Editing by Saumyadeb Chakrabarty)