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Men's Wearhouse and Jos. A. Bank Closer to Deal With Sweetened Bid

TheStreet.com Videos 1:39 mins

Jos. A. Bank finally got its price on Monday when Men's Wearhouse sweetened its offer to $63.50 per share, making it more likely that a deal between the two competitors now gets done. It's a proposal that could be increased to $65 per share if Joseph A. Bank drops its bid to buy Eddie Bauer and allow due dilligence, matching Jos. A. Bank's proposed share buyback offer. The news lifted both companies' stock on Monday, with Jos. A. Bank up over 8% to nearly $60 per share and Men's Wearhouse up almost 10% to over $49 per share.

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