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Jos. A. Bank Clothiers Inc updates on acquisition proposal from Men's Wearhouse Inc

Monday, 23 Dec 2013 08:25am EST 

Jos. A. Bank Clothiers Inc:Responds to the non-binding acquisition proposal it received on Nov. 26, from Men's Wearhouse Inc.Says that after thorough consideration by its Board of Directors, with the assistance of its financial and legal advisors, it has unanimously rejected the proposal made by Men's Wearhouse.Says board of directors concluded that the price proposed by Men's Wearhouse significantly undervalued the company and its near and long-term potential and was not in the best interest of the company's shareholders. 

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0.2 +0.31%
3:24pm EDT