Dive Brief:
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Jos. A. Bank Clothiers Inc. on Sunday sent a letter rejecting Men’s Wearhouse's $57.50-a-share bid as undervaluing the company, the latest rebuff in an ongoing buyout back-and-forth between the retailers.
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In fact, Hampstead, Md.-based Jos. A. Bank also said it has been exploring acquiring retailer Eddie Bauer, sources said.
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Men’s Wearhouse CEO Douglas S. Ewert said his company may increase the $57.50-per-share offer if due diligence supports that.
Dive Insight:
It’s been a five-month long whirlwind romance that should be making Men’s Wearhouse a little nauseous by now. If it’s really true that Jos. A. Bank intends to buy a retailer like Eddie Bauer — news that hasn’t yet been officially confirmed — that would go far to discourage Men’s Wearhouse from continuing to pursue its bid.
