This morning, Jos. A. Bank (NASDAQ:JOSB) announced it has proposed to acquire the Men's Wearhouse (NYSE:MW) in a deal worth $2.3 billion. Shareholders would receive $48 per share in cash, a premium of about 42% over the stock's closing price on September 17th -- the day the companies initially spoke of the deal. While both retailers have been experiencing a slowdown in sales and earnings, the combination of the two companies would provide valuable cost savings to improve earnings going forward. Shares of the Men' Wearhouse were higher by more than 25% on the news, while Jos. A. Bank shares climbed by nearly 6%.
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