Men's Wearhouse Launches Hostile Takeover of Jos A. Bank
Men's Wearhouse moved Monday to pin Jos. A. Bank Clothiers in a corner with a hostile $1.6 billion bid for its smaller rival. With the offer of $57.50 cash for each of Hampstead, Md.-based Bank's outstanding shares, Men's Wearhouse is bypassing the retailer's management to appeal directly to shareholders. The so-called hostile takeover bid is the latest volley in the war to control a merger that analysts now see as all but inevitable.