Jos. A. Bank board recommends shareholders reject Men's Wearhouse bid
Jan 17 (Reuters) - Jos. A. Bank Clothiers Inc's board recommended on Friday that the company's shareholders reject a $1.61 billion hostile bid from Men's Wearhouse Inc , calling it inadequate.
Men's Wearhouse mounted a hostile bid for Jos. A. Bank earlier this month in an attempt to break the resistance of its smaller rival and pacify investors hungry for a merger of the suit retailers.