Men's Wearhouse Turns Tables, Bids for Jos. A. Bank
Forget Black Friday. When it comes to selling suits and ties, the appropriate colors are apparently black and blue. Men's Wearhouse, which recently fought off a hostile bid from smaller rival Jos. A. Bank, announced its own $1.5 billion bid for Jos. A Bank this morning. Men's Wearhouse said in a statement that it evaluated a number of alternatives after Jos. A. Bank took its unsolicited offer public on Oct. 9. Men's Wearhouse concluded that an acquisition of Jos. A. Bank made the most sense. Men's Wearhouse is offering $55 a share in cash.