BUSINESS BRIEF
Jos. A. Bank yanks offer for Men’s Wearhouse
11/16/2013HAMPSTEAD, Md. — Jos. A. Bank withdrew its $2.3 billion offer to buy rival Men’s Wearhouse.
Jos. A. Bank made an unsolicited offer of $48 per share for Men’s Wearhouse Inc. in September. Men’s Wearhouse rejected the bid in October, calling it “opportunistic” and “inadequate.”
In late October, Jos. A. Bank Clothiers Inc. announced that it would terminate its bid by Nov. 14 if there continued to be no discussions on the proposal.