Jos. A. Bank Grabs Eddie Bauer for $825M
Combined company expects $2.1B in sales this year
By Arden Dier, Newser Staff
Posted Feb 14, 2014 7:14 AM CST
Updated Feb 14, 2014 7:19 AM CST
In this June 17, 2009 file photo, shoppers walk past an Eddie Bauer store in Seattle.   (AP Photo/Elaine Thompson, file)

(Newser) – Men's Wearhouse really wants to buy rival Jos. A. Bank, but the deal announced today is all about the latter, not the former. Jos. A. Bank is buying Eddie Bauer's parent company in a cash and stock deal worth $825 million, Bloomberg reports. The combination will allow "two iconic American brands to share core competencies and demographically similar customer bases," Jos. A. Bank said, though the two will run independently of each other. Combined, expected revenues for 2014 are $2.1 billion; Jos. A. Bank's sales totaled $1.05 billion in the year ended Feb. 2, 2013.

But the door hasn't been slammed shut for Men's Wearhouse, reports the AP. Even as it announced the deal, Jos. A. Bank said it may end it if it receives an acquisition offer for its company that it feels is superior. It would have to pay a termination fee if it accepted such an offer. The Hampstead, Md.-based retailer said that the Eddie Bauer transaction includes $564 million in cash and about 4.7 million new shares of Jos. A. Bank stock issued to Everest Topco at $56 per share.

View 2 more images
More From Newser
My Take on This Story
To report an error on this story,
notify our editors.
Jos. A. Bank Grabs Eddie Bauer for $825M is...
Show results without voting
You Might Like
Showing 3 of 5 comments
Ezekiel 25:17
Feb 16, 2014 11:59 AM CST
I'm sorry, the Jos. A. Banks edition Ford Explorer just does not seem very plausible.
Feb 14, 2014 2:22 PM CST
So basically you are telling us the rich are about to get richer, thanks we could not see through all the BS ourselves.
Feb 14, 2014 10:37 AM CST
Around here the Jos. A. Bank TV ads are just incessant. For this reason alone I don't patronize them. Moreover, it's obvious that any company continually advertising "buy one get TWO (sometimes even three) absolutely free" has to have huge markups.