PRESS DIGEST- New York Times business news - Nov 27

Nov 27 (Reuters) - The following are the top stories on the New York Times business pages. Reuters has not verified these stories and does not vouch for their accuracy.

* On Tuesday, Men's Wearhouse abruptly turned the tables on Jos. A. Bank and bid $55 a share in cash to acquire its one-time suitor. It is rare for the prey to become the predator, a strategy that harks back to a 1980s corporate maneuver known as the Pac-Man defense. ()

* The star witness in the federal government's insider trading prosecution of Michael Steinberg, once a senior trader at SAC Capital Advisors, told a federal jury on Tuesday why he was cooperating with prosecutors and testifying at the trial. ()

* The International Monetary Fund, convinced that Europe erred in forcing debtor countries like Greece and Portugal to bear nearly all the pain of recovery on their own, is pushing hard for a plan that would impose upfront losses on bondholders the next time a country in the euro area requests a bailout. ()

* The Securities and Exchange Commission announced a pair of enforcement actions on Tuesday, accusing Swiss company Weatherford International of bribery and a Detroit money market fund of fraud. ()

* Alfred Feld, the longest-serving employee at Goldman Sachs , with more than 80 years of service at the Wall Street bank, died on Monday in Palm Beach, Florida. He was 98. Feld was listed as a Goldman employee up until his death, although in recent years he came to work infrequently. ()

* Take-Two Interactive Software announced on Tuesday that it had bought back the stake held by Carl Icahn, compelling the resignations of three board members he was allowed to appoint. ()

* Applied Systems, a software company that focuses on the insurance industry, said on Tuesday that it had agreed to be acquired by the private equity firm Hellman & Friedman in a deal valued at $1.8 billion. The company is being acquired from Bain Capital, which purchased it for about $675 million in 2006. ()

* The Carlyle Group said on Tuesday that it would acquire the Diversified Global Asset Management Corporation, an independent hedge fund manager, the latest push by Carlyle into areas beyond its core leveraged-buyout business. ()