Houston – The Eminence Capital hedge fund has reportedly purchased a 9.8% stake in Men’s Wearhouse. According to the New York Times, Eminence Capital wants Men’s Wearhouse to reconsider the $2.3 billion buyout offer it recently rejected from Jos. A. Bank.
Eminence reportedly believes Jos. A. Bank is willing to make a higher bid if Men’s Wearhouse will consider it. The fund manages about $4.5 billion. Neither Eminence nor Men’s Wearhouse has commented publicly on the purchase.