Jos. A. Bank Rejects Men's Wearhouse $1.61B Bid

Retailer Jos. A. Bank has rejected a $1.61 billion takeover offer from rival Men's Wearhouse. The two men's clothing shops have been engaged in a strange courtship for months. Bank said Friday that the offer is still too low and not in the best interest of shareholders, urging them to reject the offer, saying it significantly undervalues the company's potential. It also asked stock holders are to tender their shares and vote for its two candidates for Hampstead, Md., company's board.

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Jos. A. Bank Rejects Men's Wearhouse $1.61B Bid
Retailer Jos. A. Bank has rejected a $1.61 billion takeover offer from rival Men's Wearhouse. The two men's clothing shops have been engaged in a strange courtship for months. Bank said Friday that the offer is still too low and not in the best interest of shareholders, urging them to reject the offer, saying it significantly undervalues the company's potential. It also asked stock holders are to tender their shares and vote for its two candidates for Hampstead, Md., company's board.
Jos. A. Bank Rejects Another Men's Wearhouse Offer
WSJ's Emma Moody joins the News Hub with her pick of stocks to watch today. Photo: Getty.
Men's Wearhouse Boosts Bid For Jos. A. Bank
Men's Wearhouse is raising its offer for Jos. A. Bank Clothiers to about $1.61 billion and taking the bid directly to its rival's shareholders. It also plans to nominate two people to the Jos. A. Bank board. Men's Wearhouse disclosed Monday that it is now offering $57.50 per share for Jos. A. Bank, up from its prior offer of $55 per share, or $1.54 billion. Jos. A. Bank rejected the previous offer in late December, saying it was too low.
DealBook: Jos. A. Bank Rejects Men’s Wearhouse Bid
Jos. A. Bank on Dec. 23 said it would not accept the offer of $55 a share from Men’s Wearhouse, which came from the company it had been trying to buy just weeks before. The Men’s Wearhouse turned the tables on Jos. A. Bank Clothiers last month after being pursued for months. By turning around and chasing after its former suitor, the Men’s Wearhouse revived the so-called Pac-Man defense, a tactic that gained popularity in the 1980s.
Men's Wearhouse Rejects Jos. A. Bank
Men's Wearhouse rejected its smaller suitor. Its archrival known for its "Buy One, Get Three Free" suits, Jos. A. Bank, offered a big premium for Men's Wearhouse. But the apparel chain is playing hard-to-get, saying the $2.3 billion cash bid "significantly undervalues" its growth prospects and could raise antitrust issues. A combination would create a network of more than 1,700 stores nationwide and Canada.
Men's Wearhouse Rejects Jos. A. Bank's $2.3B Bid
Jos. A. Bank said Wednesday it floated a non-binding deal to buy out Men's Warehouse for $48 a share in cash.
Now, Men's Wearhouse Offers To Buy Jos. A Bank
Men's Warehouse offered to buy Jos. A Bank Tuesday, not too long after Jos. A Bank made its own bid for Men's Warehouse back in October.
Jos. A. Bank and Men's Wearhouse Merger Will Spark the Great Suit War
Belus Capital Advisors' Brian Sozzi lists his three reasons why the Jos A Bank and Men's Wearhouse merger will go through. First, the companies can lower prices to gain new consumers, inciting a U.S. suit war versus department stores like Macy's and Bloomingdale's. Second, the business is very low margin and the two companies can work together to cut costs and expenses.
Men's Wearhouse and Jos. A. Bank Closer to Deal with Sweetened Bid
Jos. A. Bank finally got its price on Monday when Men's Wearhouse sweetened its offer to $63.50 per share, making it more likely that a deal between the two competitors now gets done.
Jim Cramer Says He'd Be a Seller of Jos. A. Bank and Men's Wearhouse
TheStreet's Action Alerts PLUS Co-Portfolio Manager Jim Cramer says Jos. A. Bank has essentially taken a poison pill by announcing it will buy Eddie Bauer for $825 million in a cash and stock deal. Cramer says Jos. A. Bank's original idea to team up with Men's Wearhouse made sense but Eddie Bauer does not. Cramer says he would be a seller of both Men's Wearhouse and Jos. A. Bank if the deal holds.
Men's Wearhouse Makes A Bid For Jos. A Bank
The Men's Wearhouse (MW) has turned the tables on Jos. A Bank (JOSB) by offering to acquire the rival in a deal worth approximately $1.2 billion.
Men's Wearhouse Finally Snags Rival, But Jos. A. Bank Is The Real Winner
The next time you’re looking to negotiate a deal, give the folks at Jos. A. Bank a call. After five months of back and forth, Jos. A. Bank agreed to be acquired byMen's Wearhouse in a deal worth $1.8 billion. Men’s Wearhouse will pay $65 per share in cash to purchase its smaller rival. The two companies have been playing hard to get with one another since October. That was when Jos. A. Bank made the first move and bid for its larger rival.

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