It's no secret that menswear has been one of the fastest growing specialty sectors in retail – at all price points. Even when few retailers were expanding during the recession, companies including Jos. A. Bank were opening new units. So it's not surprising that we're now seeing investors in these companies try to maximize the value of the growth. What may be surprising is the turnabout going on with Bank and Men's Wearhouse.

Just weeks after Jos. A. Bank withdrew its $2.3 billion bid for Men's Wearhouse, the latter promptly Wearhouse has offered to acquire Bank for $1.5 billion ($55 per share).

"Following Jos. A. Bank's unsolicited public proposal to acquire Men's Wearhouse, our board of directors evaluated a number of alternatives to deliver value to our shareholders," said Bill Sechrest, lead director of the board of Men's Wearhouse, in an announcement. "After a thorough review, our board concluded that an acquisition of Jos. A. Bank by Men's Wearhouse has strategic logic and the potential to deliver substantial benefits to our respective shareholders, employees and customers."