Notable Pending Deals

Men's Wearhouse to acquire Jos. A. Bank

On March 11, 2014, Men's Wearhouse announced it had entered into a definitive merger agreement to acquire rival suit maker Jos. A. Bank for cash consideration of approximately $1.8B. The announcement marks the end of nearly six months of strained negotiations between these two companies, which included unsolicited take-over offers by each of the clothiers and a modern application of the so-called "pac-man defense". In connection with the transaction, Jos. A. Bank terminated its agreement to purchase Eddie Bauer and will pay a $48M termination fee in connection with such determination. As of the date of this publication, the tender offer period has been extended through April 9, 2014. The transaction, which is subject to stockholder and regulatory approvals, is expected to close early in the third quarter of 2014.