03/11/2014 12:27 pm ET Updated Mar 11, 2014

Men's Wearhouse Is Buying Jos. A. Bank, Finally

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March 11 (Reuters) - Men's Wearhouse Inc said it would acquire rival Jos. A. Bank Clothiers Inc for about $1.8 billion, ending a five-month merger saga that started with Jos. A. Bank offering to buy its larger menswear rival.

The increased offer price of $65 per share represents a premium of 1.3 percent to Jos. A. Bank's Monday closing price.