Men's Wearhouse Inc and Jos. A. Bank Clothiers Inc are engaged in a protracted battle over who should play the lead role in creating an entity that would sell suits and rent tuxedos from about 1,700 stores in North America. Jos. A. Bank set the ball rolling in October 2013 with a $2.3 billion offer for its larger rival. Men's Wearhouse turned the tables in November with a $1.5 billion counterbid, which it raised in January to $1.61 billion.Men's Wearhouse on Feb. 24 boosted its offer by more than 10 percent to $1.78 billion, a few days after the smaller company offered to purchase outdoor clothing retailer Eddie Bauer in an effort to stay independent.Following are some of the key developments in the long-running saga:
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 traded higher by 6.62% or $2.985/share to $48.10. In the past year, the shares have traded as low as $27.47 and as high as $52.72. On average, 885705 shares of MW exchange hands on a given day and today's volume is recorded at 1663162.
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