Jos. A. Bank buying Eddie Bauer in $850M deal

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HAMPSTEAD, Md. (AP) — Jos. A. Bank Clothiers Inc. is buying
the parent company of Eddie Bauer in a cash-and-stock deal valued at
$850 million.
The men’s clothing company, which itself is being
pursued by Men’s Wearhouse Inc., made the deal with Everest Topco LLC to
buy Everest Holdings LLC, Eddie Bauer’s parent company.
Jos. A.
Bank said Friday that the transaction includes $564 million in cash and
about 4.7 million new shares of Jos. A. Bank stock issued to Everest
Topco at $56 per share.
Everest Topco may also earn up to an additional $50 million in cash based on Eddie Bauer’s adjusted
earnings for fiscal 2014.
Jos. A. Bank may end the deal if it receives an acquisition offer for its company that it feels is
superior.
Copyright 2014 The Associated Press. All rights
reserved. This material may not be published, broadcast, rewritten or
redistributed.
HAMPSTEAD, Md. (AP) — Jos. A. Bank Clothiers Inc. is buying
the parent company of Eddie Bauer in a cash-and-stock deal valued at
$850 million.
The men’s clothing company, which itself is being
pursued by Men’s Wearhouse Inc., made the deal with Everest Topco LLC to
buy Everest Holdings LLC, Eddie Bauer’s parent company.
Jos. A.
Bank said Friday that the transaction includes $564 million in cash and
about 4.7 million new shares of Jos. A. Bank stock issued to Everest
Topco at $56 per share.
Everest Topco may also earn up to an additional $50 million in cash based on Eddie Bauer’s adjusted
earnings for fiscal 2014.
Jos. A. Bank may end the deal if it receives an acquisition offer for its company that it feels is
superior.
Copyright 2014 The Associated Press. All rights
reserved. This material may not be published, broadcast, rewritten or
redistributed.

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