The Men’s Wearhouse, Inc Open to Jos. A. Bank Deal (JOSB, MW)

The Men’s Wearhouse, Inc. (MW) has been in the headlines in the past year after ousting founder and CEO George Zimmer on June 19th. Now the headlines have turned positive for the company as it appears as though the company is in negotiations for a major deal with Jos. A. Bank Clothiers Inc (JOSB).

A letter sent from Eminence Capital, which owns a 9.8% stake in MW, revealed that the firm may dole out a significant return of capital to its investors and is also in talks regarding a takeover from Jos. A. Bank. Eminence closed the letter with the following statement:

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“We strongly encourage you to promptly complete your review process and inform investors of your progress. We also fully expect you and the Board, given the explicit commitment to explore all options, to actively engage with JOSB before their deadline of November 14, 2013.”

Jos. A. Bank made the $2.3 billion takeover bid back in September, which Men’s Wearhouse had shrugged off until recently. The deadline for that deal will fall on Thursday; if talks between the two firms do not begin by then, the offer will be withdrawn. Thus far both companies have been relatively quiet about the possible deal, but more details will follow over the next two days.

The Men’s Wearhouse, Inc. shares were up $1.12, or 2.38%, at Tuesday’s close. The stock is up approximately 51% in 2013. Shares of  Jos. A. Bank Clothiers Inc were up $1.70, or 3.5% at market close.