Jos. A. Bank Buying Eddie Bauer in $825M Deal
Jos. A. Bank is buying the parent company of Eddie Bauer in a cash-and-stock deal valued at $825 million that will help strengthen its menswear business and diversify its offerings. The deal comes as Jos. A. Bank is being pursued by rival Men's Wearhouse. Shares of Jos. A. Bank fell more than 3 percent in Friday premarket trading as investors may believe the Eddie Bauer deal makes a transaction with Men's Wearhouse less likely. Men's Wearhouse shares fell almost 9 percent ahead of the market opening.