US: Jos A Bank rejects Men's Wearhouse improved offer
The retailer last week submitted a cash tender offer for all outstanding shares of Jos A Bank of US$63.50 per share, up from its previous offer of $57.50 per share.
Jos A Bank, however said it was "unanimously" rejecting the offer as "inadequate", but said it would be willing to meet with Men's Wearhouse to "establish a process that will enable you to advise our board as to the highest price you are prepared to pay in an acquisition of Jos A Bank".
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