Shares of The Men's Wearhouse fell 51 cents to $51.50 in late morning trading, and Jos. A. Bank stock declined 30 cents to $56.73. Jos. A. Bank Clothiers Inc. said its board unanimously rejected the offer from Fremont, Calif.-based Men's …
The raised offer comes 10 days after Jos. A Bank announced that it was planning to buy the parent company of Eddie Bauer in a cash-and-stock deal valued at $825 million. But at the time Jos. A. Bank left the door open, saying that it …
Eminence owns 9.8 percent of Men's Wearhouse's stock. Men's Wearhouse Inc. appears to have now come around to Eminence's view, with Sechrest stating that the potential acquisition of Jos. A. Bank at $55 per share has "strategic …
Investors clearly remain skeptical that this deal gets inked. Jos. A. Bank’s stock rose slightly Thursday morning but it’s still trading at $55.20 below Men’s Wearhouse’s initial offer price. Shares of Men’s Wearhouse dipped 1% in early trading.
Men's Wearhouse shares were down 0.9 percent at $51.54 on the New York Stock Exchange. Jos. A. Bank's Nasdaq-traded stock was down 0.7 percent at $56.64, but still above the offer price of $55.
It later announced it would adopt a shareholder rights plan, also known as a poison pill, designed to thwart anyone who buys a big chunk of its stock without board approval: 10 percent for a person or group, or 15 percent for a passive …