| 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. Has Apple’s watch missed the party?
  2. Experts say economic edge at stake with R&D tax credits
  3. Risk and compliance specialists in demand
  4. Yale, Penn State studies offer conflicting views of fracking
  5. Theme parks add premium events
  6. Regional airlines in tough position
  7. Missouri barrel sales thrive with bourbon thirst
  8. Treasury may move to devalue tax inversions, Lew says
  9. Kia aspires to be posh
  10. Western Pennsylvania health centers granted $1.6M under Obamacare
  11. Seegrid hires Vocollect Healthcare leader
Subscribe today! Click here for our subscription offers.