TribLIVE

| Business


 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

Jos. A. Bank rejects Men's Wearhouse takeover offer

On the Grid

From the shale fields to the cooling towers, Trib Total Media covers the energy industry in Western Pennsylvania and beyond. For the latest news and views on gas, coal, electricity and more, check out On the Grid today.

By The Associated Press
Tuesday, Dec. 24, 2013, 12:01 a.m.
 

Jos. A. Bank rejected a takeover offer from competitor Men's Wearhouse, saying the $1.54 billion bid is too low.

Men's Wearhouse said on Monday that it will “carefully consider all of our options to make this combination a reality.” That could include starting a proxy battle.

Men's Wearhouse said it could nominate director candidates at Jos. A. Bank's next annual meeting.

In September, a few months after Men's Wearhouse ousted its founder and chairman, George Zimmer, Jos. A. Bank offered to buy its larger rival for $2.3 billion, or $48 per share. Men's Wearhouse turned down that offer.

 

 
 


Show commenting policy

Most-Read Business Headlines

  1. Calgon Carbon poised for explosive growth
  2. CMU spinoff’s CEO gets council honors
  3. Market sell-off offers opening
  4. Natrona Bottling Co. keeps soda pop operation focused on craft, taste
  5. Chevron puts $20M into educating, training Appalachian workers
  6. Amid struggles, top fiscal executive to leave EDMC
  7. Stocks rally; S&P 500 has best day of 2014
  8. Allegheny Technologies reports $700,000 loss in 3Q
  9. High pollution levels found near Ohio gas wells
  10. Open enrollment puts varied impact of health care law back in focus
  11. PPG Industries to buy Westmoreland Supply paint store chain
Subscribe today! Click here for our subscription offers.