This is one two-for-one deal neither men’s retail store enjoys.
Men’s Wearhouse made a surprising counter-bid Tuesday to buy Jos. A. Bank for $55 a share, just a month after it rejected a purchase offer from its rival. After evaluating various options, Men’s Wearhouse said the $1.2 million retaliatory bid to acquire Jos. A. Bank made the most sense, CNN reports. Jos. A. Bank officials were not immediately available for comment.
Jos. A. Bank shares rose on news of the offer, and Men’s Wearhouse stock was also up.
[CNN]