Feb 27 Men's apparel retailer Jos. A. Bank
Clothiers Inc rejected Men's Wearhouse Inc's
revised takeover offer, calling it inadequate, but said it was
willing to talk with its larger rival about a higher bid.
Men's Wearhouse on Monday raised its cash tender offer to
Jos. A. Bank shareholders to $63.50 per share from $57.50, and
added it could increase the offer to $65.00 if it was allowed to
conduct limited due diligence.
Jos. A. Bank said on Thursday it was prepared to provide
Men's Wearhouse with a limited amount of due diligence
information, under certain conditions.
Men's Wearhouse's increased offer on Monday valued Jos. A.
Bank at about $1.78 billion and was conditional on the
termination of Jos. A. Bank's agreement to acquire Eddie Bauer.