The acquisition of Jos. A. Bank in June weighed heavily on Men’s Warehouse in the third quarter, as the company reported a profit decline of 82% due to expenses related to the integration of the rival clothier’s operations.
The months-long back and forth is over. The Men's Wearhouse will acquire all outstanding shares of Jos. A. Bank’s common stock for $65 per share in cash, or total consideration of $1.8 billion. The boards of directors of both companies have unanimously approved the transaction.