Jos. A. Bank Rejects Men's Wearhouse Takeover Offer
Jos. A. Bank Clothiers has rebuffed a $1.5 billion takeover bid by Men's Wearhouse, prompting its larger rival to explore other ways to satisfy investors’ hunger for a merger of the suit retailers. Shares of Men's Wearhouse fell about 1 percent on Monday after Jos. A. Bank rejected its offer, the latest move in a protracted battle between two retailers intent on playing the lead role in the creation of a combined entity. "I expect this tug-of-war to persist for some time," Anthony Michael Sabino, a professor at St. John's University's Peter J. Tobin College of Business, told Reuters.