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Men’s Wearhouse rejects bid from Jos. A. Bank
First Published Oct 09 2013 08:20 am • Last Updated Oct 09 2013 08:20 am

New York » Men’s Wearhouse says its board has rejected an unsolicited $2.3 billion bid by rival Jos. A. Bank to acquire the men’s wear chain. It says the offer wasn’t in the best interest of the company or its shareholders.

In a news release issued Wednesday, the company says the offer "significantly undervalues Men’s Wearhouse and its strong prospects for continued growth and value creation."

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The rejection comes after Jos. A. Bank Clothiers made public earlier Wednesday that it had made the offer last month.

The Hampstead, Md.,-based Jos. A. Bank said it offered to pay $48 in cash for each share of Men’s Wearhouse.




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