New York – Jos. A. Bank Clothiers has put in an offer to acquire Men’s Wearhouse for about $2.3 billion in a $48 per share all-cash offer, Reuters reported.
The acquisition would create a men’s apparel powerhouse with over 1,700 stores across the nation. Jos. A. Bank said Men’s Wearhouse was reviewing the proposal, according to the report.
Jos. A. Bank is partnering with Golden Gate Capital on the offer. The investment firm would make a $250 million equity investment in the company.
In June Jos. A. Bank said it was considering strategic opportunities to enhance shareholder value, including acquisitions.