Men’s Wearhouse Gets Hostile Over Jos. A. Bank Bid

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Jan. 6 (Bloomberg) -- On today's "The Roundup," Intermedia Partners Founder & Managing Partner Leo Hindery and Bloomberg’s Adam Johnson, Trish Regan, Julie Hyman, and Alix Steel wrap up the day’s top market stories on Bloomberg Television's "Street Smart." (Source: Bloomberg)

Managing partner rated ray to have you here -- partner.

Great to have you here.

Let's talk about telecom deal, not the one that you thought about.

T-mobile has acquired spectrum from rise of wireless for about $2.4 million.

It will provide t-mobile with a number of needed low band frequencies from the number one u.s. wireless carrier, which is verizon.

It will also make t-mobile and more attractive takeover target.

According to people familiar with the matter, sprint would try to take control of t-mobile by paying cash and stock owned by deutsche bank.

The spectrum story is sort of a shine so -- sideshow for whether or not sprint is going to buy t- mobile.

The analogy is it that if you're buying an apartment, and the person you're buying from buys a new washer and dryer every ui pay little more money, but they knew your self do not have to make that acquisition.

That is a good metaphor.

It is very interesting overall, because you think of the traditional table mechanism, the way it is distributing content, and you look at the wireless potential, and so much is happening right here, right now.

It is staggering, when you think about it.

What is also interesting about this deal, t-mobile needs the mobile and because of the high bed -- the low band because they have high pants.

They need to be able to push voice and data through cities -- low band can travel greater distances, and high bed is better and billets -- band is better in buildings.

That is an issue.

We can watch bloomberg tv on the iphone, do you think we will be watching tv in general on our phones?

I think trish alluded to a briefly combine the this is going to be a seminal year from an appliance point of view.

The traditional cable boxes almost antiquated.

You're going to start using your own devices to manipulate your television.

If you have the same devices outside of the home when you leave.

What the phone companies are doing, they're just balancing spectrum.

What is interesting, to your earlier,, when t-mobile gets act of, will that help a sprint deal get done, or hurt a sprint deal getting done?

They control about 80% of the market.

Will a dust they allow a tri poli play?

Verizon and at&t really do not care.

They are just fine.

But the way the law works, look for becomes three, becomes very problematic for the justice department.

We saw that in its own way with dish and directv.

When you allude that your competition is the low cost provider t-mobile about seed be able to buy the low cost producer which would give them an advantage?

We saw that with american airlines.

Raised on what they had testified to the contrary.

The discount suit saga continues.

Men's wearhouse -- you look great.

Are you wearing men's wearhouse?

They just got bought by joe said -- they're stepping up their efforts to by joseph a bank.

The hostile bid tingling a new stage in the takeover battle.

-- signaling a new stage in the takeover battle.

Again, higher than the previous bid.

It is unbelievable, urged to resume bank wanted to buy that warehouse -- first just of a bank wanted to buy men's wearhouse, and notice the other way around.

Do they not have to get a loan?

That is the problem, because there hasn't been some acrimonious talk from both sides.

First, you had men's wearhouse, joseph a bank had been trading above the men's warehouse offer price.

Now the higher bid has come, and they are trading below it.

That seems to indicate that it is more likely now that the deal will get done at this price command the shareable's will be able to come in -- the shareholders will be able to come in.

How much room is there really?

We were making fun of it earlier, but in this environment where men are nothing increasingly casual, and you have no child today -- tie on today, people are coming in more and more casual.

Is there a space for the suit and tie company?

I enjoyed your comment, there are only two players in this space.

As they deal with this, there are only two of them.

If i bid up, and then you are bid up, you are hurting each other.

The deal is going to get done, and you are cannibalizing yourself as you profit for others.

There is not a third discount suit, or a fourth this out soon founder out there.

There is only two.

It is just like playing ping- pong with each other, and the stakes will actually give up.

It will happen, just in a happen just get in a room -- just get in a room, and get the deal done.

We have a lot of stories to come.

This one is especially interesting, because you retailers rolling out the green carpet, as it were.

I like that.

It is all about the legalization of marijuana, and you rises skyrocketing.

Medicinal uses will go into a dispensary in colorado, and will pay $200 for an ounce of marijuana.

That price has skyrocketed to 400 dollars for recreational to -- users.

Colorado made it legal for you to go and just walk into one of these hot shops in denver -- pot shops in denver, it is very hard to get a license, it has had a lot of obstacles in the industry to protect itself.

If you're 21 years of age or older, you do not have to show a medicinal rises -- license or prescription anymore.

You could just buy it for a lot cheaper.

It is a really interesting situation pool where if you have a prescription for marijuana, you walk in and you get the pot at half the price.

From those who are smoking it recreationally.

You can have three and some change percent tax on medicinal use.

People who go to colorado who combed back on flights tonight -- who are coming back on flights tonight.

You have a federal law that says you cannot cross the border colorado, and yet you know that in the recreational activity, of course they're buying it.

It is still cheaper than the street price of the legal -- illegal pot.

This makes it incredibly ever go to bank.

-- difficult to bank.

You basically have to find a way to have your account -- the banks do not want to touch it.

There is a federal issue them and the banks are charging a lot of money.

People are going to such extremes, they will actually take their money, and put it in a bag of and then in a sealed airtight room, so doesn't start to smell.

By the way, i am holding up your book.

She literally wrote the book.

It is a fascinating account.

I wrote two books, and you get paid exactly the same for a big one and a small one, and

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


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