Men’s Wearhouse Inc. and Jos. A. Bank Clothiers Inc. reached an agreement to share confidential information, moving closer toward a potential merger of the menswear rivals after several failed attempts.
Under a March 1 accord, the two companies will work in good faith to evaluate a possible deal, according to a statement today. Men’s Wearhouse reiterated that it was prepared to raise its offer for Jos. A. Bank to $65 a share, from $63.50, if the discussions reveal that a higher price is warranted.