Dive Summary:
- Jos. A. Bank says it will consider raising the amount of its current buyout offer of $2.3 billion from Men’s Wearhouse.
- In September, Jos. A. Bank initially proposed the buyout offer to Men’s Wearhouse before it was publicly rejected by the company.
- Men’s Wearhouse claimed the deal undervalued the Men’s Wearhouse brand at $48 per share.
Dive Insight:
Jos. A. Bank says that the new potential offer and increased buyout figure in contingent on Men’s Wearhouse opening its books and revealing specific sales figures. Jos. A. Bank chairman Robert Wildrick has said that if discussions on the proposal are not held by Nov. 14, the company will terminate the proposal.
