Men’s Wearhouse to Buy Jos. A. Bank for $1.8B

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March 12 (Bloomberg) -- Men’s Wearhouse agreed to buy smaller rival Jos. A. Bank Clothiers for about $1.8 billion in cash, ending a five-month takeover battle between the two menswear retailers. Financo Chairman and Founder Gilbert Harrison speaks on Bloomberg Television’s “Bloomberg Surveillance.” (Source: Bloomberg)

Bishop josephhow much of this was really about rice?

Never about price.

Good morning.

The board wanted to pursue a dual path to make sure no storm -- stone was left unturned.

We were convinced eddie bauer would've been a terrific transaction.

The board is equally pleased that men's wearhouse has recognized the inherent value of jos a bank.

56% premium over the -- gilbert, but your own words, it is about price.

It is about price, but also doing the duty of board has to its shareholders to give us the best possible value that we can have.

Gilbert, why are there not more robert will directs?

He seems to be carl icahn's favorite ceo.

Where are the others in american enterprise?

I can tell you that.

Bob is one of the great retailers.

He understands the business.

He understands the people.

He has built a great company -- that you have been doing this for decades.

Why don't we see more transactions like this?

Because many times people don't have the guts to do what we did, to go on a dual path.

Many times the management of the company and the directors don't have the fortitude to look at the fiduciary duty, they just crack under pressure.

Surely, we would love to have done eddie bauer because we got the business could grow.

But on the other hand, men's wearhouse is the shareholders tremendous value.

Folks, what you just heard from gilbert arison is the most important thing on him in a we will discuss all your on "bloomberg surveillance." fortitude and guts and robert wildrick had that.

You talk about the dual path.

One more question for you.

Joseph a bank is growing twice as fast, twice as fast as men's wearhouse.

What can they teach its new owner men's wearhouse about growing the business?

An awful lot, assuming they want to take advantage of the management we have.

We have gone from 20 million of market value in 1999 to 1.8 billion dollars, which would just offer men's wearhouse.

Phenomenal picture of what board and management and leadership can do.

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

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