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Jos. A. Bank Clothiers, Inc. Message Board

  • adspatz adspatz Dec 23, 2013 11:22 AM Flag

    Jos. A Bank rejects Men’s Wearhouse acquisition proposal

    Search for "SEC Live Filings Digest" to find out more.
    Jos. A Bank Clothiers Inc. (JOSB) has announced it rejected an acquisition proposal put forth by The Men’s Wearhouse, Inc. (MW). Men’s Wearhouse, which made the offer on November 26th, offered to purchase Jos. A Bank for $1.2B, nearly two weeks after Jos. A Bank withdrew its $2.3B bid for Men’s Wearhouse. In a unanimous decision by Bank’s board of directors, the company believes the bid is too low and is now focused on making acquisitions elsewhere that will increase shareholder value. Shareholders and analysts believe that a merger of the two companies would result in a more formidable competitor to large department stores like Macy’s and others. If ever successful, the combined company would consist of 1,700 stores worth over $3.5B.

 
JOSB
64.980.00(0.00%)Jun 18 4:00 PMEDT

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