HAMPSTEAD, Md. — Jos. A. Bank Clothiers Inc. is buying the parent company of Eddie Bauer in a cash-and-stock deal valued at $825 million that will help strengthen its men's wear business and diversify its offerings.
The deal comes as Jos. A. Bank is being pursued by rival Men's Wearhouse Inc.
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.
Jos. A. Bank said Friday that it struck a deal with Everest Topco LLC to buy Everest Holdings LLC, Eddie Bauer's parent company. Everest Topco is part of Golden Gate Capital.
Read tomorrow's Arkansas Democrat-Gazette for full details.