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

Men’s Wearhouse and Jos. A. Bank ended their six-month merger dance with the announcement that the former would acquire the latter for $65 per share, in a deal valued at $1.8 billion. Jos. A. Bank, which began as the suitor when it made a $2.3 billion bid to buy its rival in October, said it will drop a deal made last month to acquire outdoor apparel brand Eddie Bauer. If the merger wins regulatory approval and closes, the combined company will operate more than 1,700 U.S. stores and boast $3.5 billion in annual sales. Read The New York Times story here