Jos. A. Bank rejects Men's Wearhouse bid, again

In the seemingly never-ending takeover war between two of the country’s largest men’s suit retailers, Jos. A. Bank on Friday rejected the latest unsolicited bid from Men’s Wearhouse.

In its latest bid, Men's Warehouse offered $57.50 a share, an offer Jos. A. Bank officials called "inadequate and opportunistic," according to the New York Times.

“At this time, the company has a well-developed strategy in place to continue to increase revenue, substantially improve margins and deliver enhanced returns to stockholders,” Robert Wildrick, the company’s chairman, said in a statement. “The Jos. A. Bank board strongly urges stockholders to reject the offer and not tender their shares.”

In December, Jos. A. Bank rejected a $55 a share bid from Men's Warehouse, just weeks after the company issued a takeover bid for Men's Warehouse, which also was rejected.

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