Brooks Brothers Bought for $325 Million by Authentic Brands, Simon Property

After 202 years as an independent, privately owned company, Brooks Brothers will be sold to Authentic Brands Group and SPARC Group, a partnership with Simon Property Group (NYSE: SPG). The partners' successful bid for the men's clothing company follows up an earlier "stalking horse" bid of $305 million they made at the end of July. The purchasers upped their offer to $325 million, and Brooks Brothers announced Wednesday that it had accepted.