Men’s Wearhouse Rejects Jos. A. Bank Proposal
October 11, 2013
Houston, Texas-based Men’s Wearhouse has rejected the $2.3 billion bid by Jos. A. Bank Clothiers Inc., according to The Wall Street Journal. Men’s Wearhouse also has adopted a shareholder rights plan to prevent new investors from acquiring control of the retailer. Men’s Wearhouse said that the rights plan, which expires Sept. 30, 2014, was adopted in response to Jos. A. Bank’s unsolicited offer.