Is $65 Per Share the Perfect Fit for Jos. A. Bank?

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March 11 (Bloomberg) –- Men’s Wearhouse agreed to buy Jos. A. Bank Clothiers for about $1.8 billion in cash, ending a five-month takeover battle between the two menswear retailers. Cristina Alesci reports on Bloomberg Television’s “Bottom Line.” (Source: Bloomberg)


They like the way they look.

Asked i love that, mark.

Like this has been going on since we were both children.

Jos a bank wanted a certain price and they got it today.

They rejected every single offer from men's wearhouse.

They started this fight back in october when it went directly to men's wearhouse shareholders and said they wanted to take over men's wearhouse, which is a much bigger company.

The stock price of both of these companies were rising and falling.

Even through all of this noise, was there ever any doubt that this deal would be consummated?

Tremendous amounts of doubts reflected in the stock prices.

Joe's a bank got so indignant to a deal, it it tried to do a deal with eddie bauer.

That was not successful.

You have to give it to them.

$65 a share, a pretty nice price.

It seems like shareholders are pretty happy today.

How happy?

The chairman of joe's a bank -- joe's a bs a bank, it got to a point where shareholders were so angry that he had turned down offers so many times, they took him to court and sued him over this.

They made it so my key was abrogating his fiduciary duty.

All of this harsh the goading -- negotiating tactics paid off.

They talk about the fact that they need clearance from the government.

It will work with the federal trade commission to make sure they get all of the approvals necessary.

They released -- the release only has the bare bones of the actual agreement.

We will learn more about the specific provisions as it relates to antitrust.

According to the story on the terminal, the combined company will have more than 1700 u.s. stores.

What do both of these gain from each other?

There is no doubt that in these kinds of merger situations, they will always overestimate how much money they will save.

They will save about $150 million annually.

Some of this could be a little bit of marketing, but bank will get the nice business that men's wearhouse has of renting tuxedos . there are synergies here.

This text has been automatically generated. It may not be 100% accurate.


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