Men's Wearhouse Spurns $2.3B Jos. A. Bank Tie-Up Proposal

Law360, New York (October 9, 2013, 11:08 AM EDT) -- Men’s Wearhouse Inc. on Wednesday spurned a $2.3 billion private equity-backed bid from smaller rival Jos. A. Bank Clothiers Inc., saying the proposal undershoots the California retailer’s true value and would stunt promising growth prospects in a booming men’s retail marketplace.

The rejection came hours after Jos. A. Bank went public with its bid, made alongside Golden Gate Capital Partners. Official word of the take-private offer came after a wave of speculation over whether the companies — both major names in the menswear world — would...
To view the full article, register now.