Jos. A. Bank Rejects Men’s Wearhouse’s $1.78 Billion Bid

Jos. A. Bank agreed to meet with Men's Wearhouse to discuss a potential merger after rejecting a sweetened $1.78 billion bid from the fellow menswear chain. The current Men's Wearhouse proposal is inadequate and not in the interests of investors, Hampstead, Md.-based Jos. A. Bank said yesterday in a statement. It reiterated that its separate deal to buy Eddie Bauer — an agreement reached earlier this month — would create significant value for shareholders.