Johnson Rice Upgrades The Men's Wearhouse, Inc. (MW) to Overweight
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Men's Wearhouse (MW) to Acquire Jos. A. Bank (JOSB) for $65/Share Cash
March 11, 2014 12:06 PM EDTThe Men's Wearhouse (NYSE: MW) and Jos. A. Bank Clothiers (Nasdaq: JOSB) announced that they have entered into a definitive agreement under which Men's Wearhouse will acquire all of the outstanding shares of common stock of Jos. A. Bank for $65.00 per share in cash, or total consideration of $1.8 billion. The boards of directors of both companies have unanimously approved the transaction.
Together, Men's Wearhouse and Jos. A. Bank will have more than 1,700 stores in the U.S., with approximately 23,000 employees and sales of $3.5 billion... More
