Men's Wearhouse appoints advisers on deal with Jos. A. Bank

The Men's Wearhouse, Inc. (NYSE: MW) announced Tuesday that it has appointed

AlixPartners, to support its integration of Jos. A. Bank Clothiers, Inc.

"We are pleased to announce that we have engaged AlixPartners to support our integration of Jos. A. Bank. AlixPartners' vast experience in retail as well as in large merger integration situations will provide significant support to our company's goal of achieving an estimated 100 to 150 million dollars of annual run-rate synergies over three years through improving purchasing efficiencies, optimizing customer service and marketing practices and streamlining duplicative corporate functions," said Doug Ewert, Men's Wearhouse president and chief executive officer, in the statement.

"The combination of Men's Wearhouse and Jos. A. Bank will produce the fourth largest US men's apparel retailer with pro forma sales of approximately 3.5 billion dollars. Once the transaction has received all necessary regulatory approvals, we expect to close in a timely fashion and begin a smooth integration."

On the process itself, Ewert also reminded that there will be no rebranding and that management at the joint company "will consist of the most qualified individuals from both organisations," added Ewert.

On a separate note, analysts at Mizuho upgraded shares of The Men's Wearhouse (NYSE:MW) from a 'neutral' rating to a 'buy' recommendation in a report released on Monday. They currently have a 60 dollars price objective on the stock.