A. Bank Clothiers Inc (JOSB) has rebuffed a $1.5 billion takeover bid by Men's Wearhouse Inc (MW), prompting its larger rival to explore other ways to satisfy investors' hunger for a merger of the suit retailers. Shares of Men's Wearhouse fell about 1 percent on Monday after Jos. A. Bank rejected its offer, the latest move in a protracted battle between two retailers intent on playing the lead role in the creation of a combined entity. Fremont, California-based Men's Wearhouse last month offered $55 per share for Jos.
via Business News - Yahoo Finance http://finance.yahoo.com/news/jos-bank-rejects-mens-wearhouse-133828460.html
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