Jos. A. Bank Scraps $2.3B Men's Wearhouse Buyout Campaign

Law360, New York (November 15, 2013, 11:09 AM EST) -- Jos. A. Bank Clothiers Inc. on Friday yanked its $2.3 billion private equity-backed offer for larger rival Men's Wearhouse Inc. after the target refused to open itself to negotiations despite pressure from its largest shareholder to consider the tie-up.

The move comes after Texas-based Men's Wearhouse missed a Thursday deadline to meet Jos. A. Bank and California's Golden Gate Capital Partners at the bargaining table, apparently sticking by its previous rejections of the proposal despite indications that it was warming up to the idea of a...
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