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Jos. A. Bank Clothiers Inc.
Jos. Bank moves to protect itself from Men's Wearhouse takeover
Jos. Bank moves to protect itself from Men's Wearhouse takeover

Jos. A. Bank Clothiers Inc. has taken steps to protect itself from a hostile takeover after having rejected an acquisition bid by rival Men's Wearhouse. The board of Hampstead-based company approved an amendment to the company's shareholder rights plan that, among other things, reduces the ownership threshold to 10 percent from 20 percent of outstanding common shares, the company said Friday. "In light of the hostile actions The Men's Wearhouse Inc. has taken and threatened to take against the company, which are not in the best interest of the company's shareholders, the board felt it was appropriate to protect the company's shareholders by leveling the...

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