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Tuesday, December 3, 2013

Sycamore in lead for Men's Wearhouse's K&G chain-sources, (NYSE: MW)

Sycamore Partners LLC is in advanced talks to acquire off-price chain store K&G from 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. The people, who spoke on condition that they would not be identified because the talks are confidential, said Men's Wearhouse could enter talks with other parties that bid for K&G if a deal with Sycamore canot be reached.Sycamore failed to comment while a Men's Wearhouse representative did not immediately respond to a request for comment.

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.