Eddie Bauer was left at the altar Tuesday when it’s would-be buyer Jos. A Bank Clothiers agreed to be acquired by rival retailer The Men's Wearhouse (MW) and Jos. A. Bank Clothiers (JOSB).

The Men's Wearhouse will acquire all of the outstanding shares of common stock of Jos. A. Bank for $65.00 per share in cash, or $1.8 billion. The boards of directors of both companies have unanimously approved the transaction.
As part of the agreement, Jos. A. Bank terminated its agreement to acquire Everest Holdings LLC, the parent company of Eddie Bauer Tuesday for about $825 million. As a result of the termination of its agreement to purchase Everest Holdings LLC, the terms and conditions of the offer were not satisfied. Effective immediately, Jos. A. Bank is also withdrawing its previously announced tender offer to purchase for cash up to $300 million in value of its common stock.  Jos. A Bank also said it canceled Tuesday a pending $50 million offering it was preparing to help finance the Eddie Bauer acquisition.
The companies did not mention the 6 percent break-up fee Jos. A Bank agreed to pay Everest Holdings should it back out of the deal. That fee should add $48 million to Eddie Bauer's bank account.