NEW YORK (MarketWatch) -- Jos. A. Bank Clothiers Inc. (JOSB) said Monday it has rejected Men's Wearhouse Inc.'s (MW) acquisition bid. Jos. A. Bank said its Board of Directors unanimously voted to reject the offer for $55 a share, made on Nov. 26 , because the price "significantly undervalued" the company. The rejection is the latest in a string of back-and-forth action between the two men's clothing retailers. Jos. A. Bank in October initially offered to buy Men's Wearhouse in early October. That bid was rejected.