Men's Wearhouse says we'd like the way we'd look with Jos A. Bank with a bid
Less than 2 weeks after being a target of a $2.3B offer by Jos A. Bank (JOSB), which they characterized as far too low, Men's Wearhouse (MWS) turned the tables with a $1.5B offer for Jos A Bank. Jos. A Bank, responded in a written statement that it had received the “unsolicited, non-binding acquisition proposal” and would respond “in due course.” Men's Wearhouse is the larger of the two retailers with 1,137 locations to Jos A. Bank's 600+ and was stunned in October by the offer from Jos A. Bank. Men's Wearhouse earlier in the year was in the news for it's less then amicable parting with founder George Zimmer.
Source: Wall Street Journal