TribLIVE

| Business


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

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

Email Newsletters

Click here to sign up for one of our email newsletters.

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.

Subscribe today! Click here for our subscription offers.

 

 


Show commenting policy

Most-Read Business Headlines

  1. Experts: If health insurers’ safeguard goes broke, consumers could pay
  2. Nike, Under Armour invest in watching exercisers’ steps
  3. Scented society is killing cheap perfume industry
  4. Retailers vie for workers in tightening labor market
  5. Low average of jobless claims points to hiring rebound
  6. Visa limits vex businesses
  7. Guessing approach can result in big bill
  8. Acura ILX strikes balance
  9. Lexus sport coupe has youthful appeal, power
  10. MedExpress bought by United Health Group
  11. Pittsburgh union serving TV, film production looking for lots of help