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George Zimmer
Men's Wearhouse takes bigger bid for Jos. A. Bank to rival's investors
Men's Wearhouse takes bigger bid for Jos. A. Bank to rival's investors

Men’s Wearhouse Inc. is upping its bid to buy competitor Jos. A. Bank Clothiers, offering to pay some $1.6 billion for the men’s apparel retailer. The two companies have been trading acquisition attempts, sparked by Jos. A. Bank’s unsolicited move on Oct. 9 to purchase the much larger Men’s Wearhouse for $48 a share, or roughly $2.3 billion. On Monday, Men’s Wearhouse said it commenced a cash tender offer of $57.50 a share — a 38% premium over Jos. A. Bank’s close on Oct. 8. Compared with Jos. A. Bank’s Friday close of $54.41 a share, it’s a 5.7% premium. “Although we have made clear our strong preference to work...

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