Men's Wearhouse is pursuing a possible purchase of dress-shoe retailer Allen Edmonds, according to people familiar with the matter. Such a move could complicate Jos. A. Bank Clothiers's unsolicited bid for Men's Wearhouse.
It is unclear who else, if anyone, may be bidding for closely held Allen Edmonds, which could fetch a price in the low hundreds of millions of dollars. A deal for the company, with Men's Wearhouse or someone else, could be reached next month.
This month, Jos. A. Bank offered $48 a share in cash for Men's Wearhouse, but Men's Wearhouse has rejected that bid in part based on the price.