Dive Brief:

• Jos. A. Bank Clothiers has agreed to buy Eddie Bauer’s parent company, the retailer announced Friday morning. Bellevue, Wash.-based Eddie Bauer runs 370 stores, while Baltimore-based Jos. A. Bank runs some 600.

• The deal is worth an estimated $825 million, including cash and debt. Jos. A. Bank will also buy back $300 million of its own stock to pay $65 per share.

• The menswear retailer will pay Eddie Bauer’s parent company, Golden Gate Capital, $564 million in cash and 4.7 million new Jos. A. Bank shares.

Dive Insight:

The chance of a hostile takeover of Jos. A. Bank by Men’s Wearhouse, which has been careening back and forth for months with various maneuvers, attempts, and bids, has now drastically dimmed in light of this deal. Wall Street reacted to the news with a frown so far on Friday, with shares of both Jos. A. Bank and Men's Wearhouse down in early trading. But there are several escape hatches built into the deal, so there’s still plenty to watch. And once it is completed, if it is, we’ll see what happens to the various outlets of either brand. In any case, watchers of the Men’s Wearhouse-Jos. A. Bank melodrama can finally collect their coats and go home.