Dive Summary:

• Jos. A. Bank has terminated its offer to acquire Men’s Wearhouse, Retailing Today reports.
• The upscale men’s clothier initially had submitted an unsolicited takeover bid in September for Men’s Wearhouse, which publicly rejected the offer.
• This week, Men’s Wearhouse was encouraged by major shareholders to engage in talks with Jos. A. Bank before a Nov. 14 deadline.

Dive Insight:

Men’s Wearhouse claimed that the buyout proposal from Jos. A. Bank undervalued Men’s Wearhouse – despite the fact that the offer of $48 per share represented a 40% premium on current share value. The total price offered to acquire the Men’s Wearhouse brand was worth a reported $2.3 billion but it appears an imminent agreement between the sides will not be reached.