Jos. A. Bank rejects Men’s Wearhouse’s bid «

    Jos. A. Bank rejects Men’s Wearhouse’s bid

    Jos. A. Bank Clothiers Inc. /quotes/zigman/56759/delayed/quotes/nls/josb JOSB +0.66% on Friday rejected larger rival Men’s Wearhouse’s /quotes/zigman/233713/delayed/quotes/nls/mw MW -1.25% raised bid to acquire the company for $57.50 a share. The offer is “inadequate” from a financial point of view and not in the best interest of Jos. A. Bank’s shareholders, the company said. The board has determined that the offer does not reflect the value inherent in the company’s future prospects and its track record in creating stockholder value, Jos. A. Bank said in a statement.