Men’s Wearhouse Inc. raised its bid for Jos. A. Bank Clothiers Inc. 10 percent to about $1.78 billion and offered to further increase the price if the target agrees to terminate a separate deal to buy Eddie Bauer.
The offer of $63.50 a share expires March 12, Houston-based Men’s Wearhouse said today in a statement. The bid may increase to $65 a share, or about $1.82 billion, if Jos. A. Bank ends the Eddie Bauer deal and lets Men’s Wearhouse conduct limited due diligence.