Sycamore Partners LLC is in advanced talks to acquire the off-price chain store K&G of Men's Wearhouse Inc, the clothing retailer embroiled in a takeover battle with Jos. A. Bank Clothiers Inc, according to four people familiar with the matter. K&G sells men's, women's and children's discounted apparel and accessories from brands such as Calvin Klein, Kenneth Cole and Rocawear. It accounted for 15 percent of Men's Wearhouse's fiscal 2012 net sales of $2.5 billion.The amount that Sycamore was offering for K&G could not be learned said the people, who spoke on condition that they would not be identified because the talks are confidential.Sycamore failed to comment while a Men's Wearhouse representative did not immediately respond to a request for comment.Men's Wearhouse, which has executive offices in Fremont, California, operates more than 1,100 stores under the Men's Wearhouse, Moores and K&G banners. The company said in March it had asked Jefferies Group LLC to explore strategic options for K&G to allow it to focus on specialty men's apparel retailing.
The Men?s Wearhouse, Inc. is a specialty retailer of men?s suits and a provider of tuxedo rental product in the United States and Canada. Shares of MW fell by 0.93% or $-0.48/share to $51.07. In the past year, the shares have traded as low as $27.42 and as high as $52.72. On average, 1506690 shares of MW exchange hands on a given day and today's volume is recorded at 561083.
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