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he hostile takeover battle between Men’s Wearhouse and Jos. A. Bank Clothiers just grew even more heated.
Men’s Wearhouse, the larger of the two men’s suit retailers, announced Monday that it had increased its unsolicited tender offer to $63.50 a share, up from its previous offer of $57.50.
The company also filed a lawsuit to block Jos. A. Bank’s proposed acquisition of clothing retailer Eddie Bauer for $825 million in cash and stock.
The Eddie Bauer offer, made less than two weeks ago, was considered an attempt by Jos. A Bank to thwart any more unwelcome advances from Men’s Wearhouse.
Men’s Wearhouse said that Jos. A. Bank had until March 12 to consider the new proposal.