JoS. A. Bank Rejects Men's Wearhouse Offer - Quick Facts

(RTTNews) - Retailer JoS. A. Bank Clothiers, Inc. (JOSB), after thorough consideration by its board, rejected the proposal made by Men's Wearhouse(MW), on November 26. The board said that the consideration put forth by Men's Wearhouse 'significantly undervalued the company and its near and long-term potential and was not in the best interest of the company's shareholders.'

Commenting, Robert Wildrick, Chairman of Jos. A. Bank, said: "At the same time, we continue to review acquisition opportunities that would represent a strong strategic fit with our Company and provide an opportunity to leverage our core competencies to drive meaningful growth, synergies and substantial value creation over the long term."