Jos. A. Bank Drops Men’s Wearhouse Bid

Jos A Bank The deadline for Jos. A. Bank Clothiers’ $48 per share bid for rival Men’s Wearhouse has expired without the two retailers meeting for talks.

“If, in the future, we are invited by the Men’s Wearhouse board to discuss our acquisition of Men’s Wearhouse, or if circumstances were otherwise to change, Jos. A. Bank may consider whether a new proposal to acquire Men’s Wearhouse is warranted,” write Jos. A. Bank chairman Robert N. Wildrick in a letter to Men’s Wearhouse CEO Doug Ewert.

Jos. A. Bank first revealed in early October that it made a $2.3 billion ($48 per share) for Men’s Wearhouse in September. Men’s Wearhouse publicly and emphatically rejected the offer and Jos. A. Bank countered by saying it may make a hostile bid. Last week, hedge fund Eminence Capital—the largest shareholder in Men’s Wearhouse—said it was disappointed that the retailer did not engage in talks with Jos. A. Bank.

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