-
Jos. A. Bank issues response to Men’s Wearhouse rejection
The Men’s Wearhouse has rejected Jos. A. Bank’s offer to acquire the retailer for about $2.3 billion in a $48 per share all-cash offer, and Jos. A. Banks is not taking no for an answer.
The acquisition would create a men’s apparel powerhouse with more than 1,700 stores across the nation. However, the Men’s Wearhouse said in a press release that the unsolicited offer significantly undervalues the company, is inadequate and not in the best interests of the company or its shareholders.
-
Jos. A. Bank offers to acquire Men’s Wearhouse
New York – Jos. A. Bank Clothiers has put in an offer to acquire Men’s Wearhouse for about $2.3 billion in a $48 per share all-cash offer, Reuters reported.
The acquisition would create a men’s apparel powerhouse with over 1,700 stores across the nation. Jos. A. Bank said Men’s Wearhouse was reviewing the proposal, according to the report.
Jos. A. Bank is partnering with Golden Gate Capital on the offer. The investment firm would make a $250 million equity investment in the company.