Breaking Finance News

BREAKING: Jos. A Bank to Acquire Eddie Bauer

Jos. A. Bank (NASDQ: JOSB) announced this morning that it will acquire Eddie Bauer for $825 million consisting of cash and new common stock of Jos. A. Bank.

The acquisition is expect to be accretive to Jos. A. Bank EPS. Golden Gate Capital, the owner of Eddie Bauer, will become a significant shareholder of Jos. A. Bank.

“We have long admired the Eddie Bauer brand and its widespread appeal among those with active lifestyles and excitement about the outdoors, a large and growing customer base that overlaps significantly with ours. Based on the success of Eddie Bauer’s turnaround and the outstanding opportunities a combination of our companies provides, we believe this transaction ideally positions Jos. A. Bank for the future, and Golden Gate’s investment in our Company and participation on our Board is a strong endorsement of our plan,” said Robert N. Wildrick, Chairman of Jos. A. Bank.

Disclosure: At the time of this writing, Tim Parker had no position in the company mentioned.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.