Jos. A. Bank is playing hard to get.
The men’s clothing company rejected Men’s Wearhouse’s $1.78 billion sweetened acquisition offer. But it said it is willing to meet with its rival chain over a possible higher bid.
Men’s Wearhouse Inc. said Monday it would offer $63.50 per share for Jos. A. Bank, up from its prior bid of $57.50 per share. It also said it could raise the bid to $65 per share, if some conditions are met.
On Thursday, Jos. A. Bank said it was willing to meet with Men’s Wearhouse to discuss the higher bid.
Meanwhile, Jos. A. Bank said it cleared a regulatory hurdle in its planned buy of Eddie Bauer’s parent company. Men’s Wearhouse has said that deal was designed to thwart its offer.