Dive Brief:

• Last Thursday, Jos. A. Bank reported its board had rejected the latest Men’s Wearhouse takeover bid of $63.50 per share.

• Jos. A. Bank has also announced that it would meet with Men’s Wearhouse in light of the latter’s statement that it could increase its bid depending on the results of its due diligence.

• Through legal moves and bid increases, Men’s Wearhouse is keeping the pressure on Jos. A. Bank, but Jos. A. Bank in turn has pushed back, bidding on Eddie Bauer, and asking for how its rival would answer any questions from the Federal Trade Commission on antitrust issues if the two were to merge.

Dive Insight:

This drama is nearing the Puccini-aria stage. While the statement from Jos. A. Bank that it is open to talks sounds promising on its face to the many investors in and out of Men’s Wearhouse who believe the two companies should merge, most believe the move is tactical rather than any sign of change. Jos. A. Bank is covering all its bases by stating that it’s open to meeting and by demanding specifics about how Men’s Wearhouse would react to any federal antitrust challenges. By the end of last week, Jos. A. Bank’s bid to take over Eddie Bauer looked less likely than before, although the company insists all is on track. Once everyone’s homework is all in and corrected, we’ll see how things go, but clearly everyone's still singing their own songs.