Jos. A. Bank Says It's Open To Higher Men's Wearhouse Bid

Law360, New York (February 27, 2014, 5:56 PM EST) -- Jos. A. Bank Clothiers Inc. added another layer to its monthslong merger battle with rival Men's Wearhouse Inc., saying Thursday that a $1.8 billion takeover proposal falls short of its true value but that it is willing to head to the bargaining table to discuss a heftier bid.

The rejection comes days after California- and Texas-based Men's Wearhouse revealed a $63.50-per-share proposal, an upgrade over an earlier $57.50-per-share offer. When it lobbed its bid, the company said it would consider ratcheting up its consideration to $65...
To view the full article, register now.