Jos. A. Bank Spurns Sweetened $1.6B Men's Wearhouse Bid

Law360, New York (January 17, 2014, 5:01 PM EST) -- Jos. A. Bank Clothiers Inc. on Friday blasted a $1.6 billion merger proposal from California- and Texas-based rival Men's Wearhouse Inc. as inadequate despite mounting pressure from the would-be buyer and an activist investor to pursue the deal or face a proxy fight.

The rejection marks the second time in less than a month that Jos. A. Bank brushed off its suitor. The company toughened its opposition this time around, reaffirming that it is exploring unspecified “strategic acquisitions and other alternatives” to the sweetened Men's Wearhouse...
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