Jos. A. Bank Rejects Men’s Wearhouse Bid … Again
In the seemingly never-ending takeover war between two of the country's largest men's suit retailers, Jos. A. Bank on Friday rejected the latest unsolicited bid from Men's Wearhouse. Jos. A. Bank called its suitor's offer of $57.50 a share "inadequate and opportunistic" in announcing its rejection. Shares of Jos. A. Bank closed at $56.49 on Friday. "At this time, the company has a well-developed strategy in place to continue to increase revenue, substantially improve margins and deliver enhanced returns to stockholders," Robert N. Wildrick, the company's chairman, said in a statement.