TribLIVE

| Business


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

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

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. Google Pittsburgh instrumental in fight against hackers, co-directors say
  2. Education spending helps to widen wealth gap
  3. Hospitals, doctors in Pa. received $32M in 5 months from drug, medical device companies
  4. Retirement planning is about more than just money
  5. Trib 30 index of Pittsburgh-area stocks falls in September
  6. LNG exports get federal approval from Dominion’s Cove Point terminal
  7. Western Pa. unemployment rate holds steady in August
  8. Shareholders cheer eBay’s decision to spin off PayPal
  9. EPA says greenhouse gas releases from wells, pipelines decline
  10. ‘Tug of war’ takes effect on stocks as market logs 3rd monthly drop for 2014
  11. Study: Wellness programs don't save money, but employee health improves
Subscribe today! Click here for our subscription offers.