Shares of Men's Wearhouse gained 32 cents to $46.44 in morning trading Friday, while Jos. Bank had previously said it would be open to raising its offer if allowed to assess whether an increased bid is justified. Bank is moving forward with considering other strategic options that it has been investigating. A. 14 if there continued to be no discussions on the proposal. Bank. Bank's stock added 36 cents to $50.67. Eminence Capital said that if the amendments are approved it would allow stockholders to remove Men's Wearhouse board members without cause before the next annual shareholders meeting. Jos. Jos. Eminence said that it made a filing elephanttube with the Securities and Exchange Commission to potentially call a special meeting of Men's Wearhouse shareholders to vote on some bylaw amendments. Bank retail store on October 9, 2013 in San Francisco. Bank sells men's tailored and casual clothing, sportswear and footwear.
On Friday Jos. An email was sent and a voicemail left seeking comment from Men's Wearhouse. A. (Justin Sullivan/Getty Images)
Jos A Bank withdraws $2.3 billion bid for Men's Wearhouse - San Jose Mercury News Eminence Capital, Men's Wearhouse's biggest stockholder, said in a statement that it was disappointed that the company has yet to have acquisition-related talks with Jos.
Men's Wearhouse sells men's sportswear and suits through its namesake chain of stores, as well as the Moores and K&G retail chains. Bank made an unsolicited offer of $48 per share for elephanttube Men's Wearhouse in September. Bank withdrew its $2.3 billion offer to buy rival Men's Wearhouse. Bank said that if the board of Men's Wearhouse decides in the future that it wants to discuss a potential acquisition, or if circumstances otherwise change, that it may consider whether a new bid for its rival is warranted. A.
HAMPSTEAD, Md. Bank Clothiers announced that it would terminate its bid by Nov. A. -- Jos. A.
A shirt and tie are displayed at a Jos. Jos. While it targets a more established male professional, it's known for generous promotions like buying one suit or sport coat and getting three for free. A. A. Bank said in a statement that "this is a matter between the Men's Wearhouse board and its shareholders."
In late October, Jos. The company says it still believes that a deal could be in the best interest of both companies' shareholders. A. But Men's Wearhouse wouldn't give the company access to nonpublic information. . A. Men's Wearhouse rejected the bid in October, calling it "opportunistic" and "inadequate." Jos. It's also trying to raise the average ticket price and announced in July that it's buying the upscale Joseph Abboud brand for about $97.5 million in cash. A. Recently, the Houston company has been going after younger shoppers with suits featuring slimmer silhouettes. A