FREMONT, Calif. – Men’s Wearhouse says it could boost its offer to Jos. A. Bank if the rival men’s clothing retailer forms a committee to reconsider merging the two companies.
The companies have been dancing around a combination. Earlier this month, Jos. A. Bank Clothier rejected a $1.61 billion takeover offer from Men’s Wearhouse.
On Thursday, Men’s Wearhouse, based in Fremont, Calif., asked Jos. A. Bank Clothiers to reconsider. It also says that Men’s Wearhouse could raise the offer if Jos. A. Bank can show it is worth more.
The saga began in October when Jos. A. bank made a $2.3 billion offer for Men’s Wearhouse. It was rejected, but later Men’s Wearhouse made an offer for its rival.
Jos. A. Bank, based in Hampstead, Md., declined to comment.