(Undated) -- Joseph A. Bank is buying retailer Eddie Bauer for $825-million in cash and stock.
The deal comes amid Joseph A. Bank's continuing battle to take over rival Men's Wearhouse. The "Wall Street Journal" reports the company will pay $564-million in cash and four-point-seven million new shares at $56-dollars a share.
The deal could give Joseph A. Bank the upper hand in its bid for Men's Wearhouse because the acquisition of Eddie Bauer is expected to immediately add to the clothier's earnings.