Jos. A. Bank to acquire Eddie Bauer
A sign for clothing retailer Jos. A. Bank is pictured in the Manhattan borough of New York February 14, 2014. Men's clothing retailer Jos. A. Bank Clothiers Inc, the target of an unwelcome bid from rival Men's Wearhouse Inc, said it would buy outdoor clothing retailer Eddie Bauer for $825 million in its latest effort to stay independent. (REUTERS/Carlo Allegri)
Jos. A. Bank also said it would issue a tender offer to buy up to 4.6 million of its outstanding shares, just over 16 percent, at $65 per share, which would depend on closing the deal.
Jos. A. Bank and Eddie Bauer, which appeal to similar customers, said they are looking for a merger to bring substantial opportunities for growth and about $25 million in infrastructure synergies while maintaining two separate and independently run brands. The deal would give Bank a larger stake in men's apparel while adding women's apparel and footwear.
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