Dive Brief:

• Men’s Wearhouse approached competitor Jos. A. Bank with a $63.50/share unsolicited tender buyout offer on Monday, The New York Times reports.

• This follows a previous offer of $57.50/share from the men’s suit retailer that was rejected in January. 

• The offer could potentially increase to $65/share if Jos. A. Bank agrees to discard a planned $825 acquisition of Eddie Bauer.  

Dive Insight:

This buyout battle has been long fought, beginning last year with Jos. A. Bank’s offer to buy Men’s Wearhouse for $2.4 billion. Facing pressure from its largest shareholder Eminence Capital, Men’s Wearhouse is using multiple means to secure the deal, filing a lawsuit on Monday to block Jos. A. Bank’s proposed Eddie Bauer acquisition. It seems like an agreement would help both companies avoid a long road of legal battles, but only time will tell if the historically strong-willed Jos. A. Bank will take the bait.