Jos. A. Bank recommends rejection of Men's Wearhouse's $57.50/share offer

|About: Jos. A. Bank Clothiers, Inc. (JOSB)|By:, SA News Editor

The board of Jos. A. Bank (JOSB +0.7%) recommends that shareholders reject Men's Wearhouse (MW -1.3%) "unsolicited, highly conditional" $57.50/share tender offer.

Among deficiencies listed in the board's recommendation: "the Offer significantly undervalues Jos. A. Bank [...] Men's Wearhouse's true motives are unclear and its commitment to the Offer is not credible [...] [and] the Offer fails to appropriately compensate the Company's stockholders for the significant synergies that Men's Wearhouse claims would be created by a business combination."