Jos. A. Bank Clothiers Inc had approached US apparel retailer Men's Wearhouse Inc. regarding a possible merger. This was according to a Wall Street Journal report citing people familiar with the transaction. The report went on saying that it was not clear what kind of tie-up would take place.
Jos. A. Bank has a market capitalization of around USD1.17 billion. This is smaller compared to the market capitalization of Men's Wearhouse which is valued at USD1.68 billion. Last June, Jos. A. Bank said it would consider strategic opportunities to enhance the value of its shareholder. This would include potential acquisitions for the additional growth of the company.
Jos. A. Bank had been in operation for around hundred years selling men's tailored and casual clothing. The company has more than 600 stores, according to its website. Meanwhile, Men's Wearhouse was established in 1973 and sells discount suits. Men's Wearhouse has around 1137 stores, according to the company's data posted on its website.
Join the Conversation