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New York -- The Men's Wearhouse and Jos. A. Bank Clothiers saga continues with reports that Men’s Wearhouse will review a previously rejected merger with Jos. A. Bank Clothiers.
Eminence Capital LLC, Men's Wearhouse largest single shareholder, said the retailer is still exploring its strategic options, including a possible merger with Jos. A. Bank, the Associated Press reported. The New York-based hedge fund has urged the retailer to quickly engage with Jos. A. Bank over the merger offer that Men's Wearhouse turned down in October.
In a letter to Men’s Wearhouse CEO Doug Ewert, Eminence CEO Ricky Sandler wrote that he was encouraged to learn after speaking with him that Men's Wearhouse is still reviewing its options.
"We also fully expect you and the board, given the explicit commitment to explore all options, to actively engage with Jos. A. Bank before their deadline of November 14, 2013," Sandler wrote.
It was the second letter Eminence made public. Earlier this month it wrote the retailer urging it to consider a sale of the business.