Jos. A Bank Clothier's bid for Men's Wearhouse gained new life Tuesday.
Under pressure from its largest shareholder, Men's Wearhouse may reconsider a bid to merge with Jos. A. Bank Clothiers Inc.
Houston-based Men's Wearhouse is asking its financial advisers to review Jos. Bank's $2.3 billion offer, according to a letter from Eminence Capital, which owns 9.8 percent of the chain's common stock. Last week, the New York hedge fund demanded the company consider Bank's acquisition proposal, which Men's Wearhouse previously rejected as too low.
The advisers will present the proposal and other potential options to the Men's Wearhouse board, according to the letter from...