Jos. A. Bank Withdraws its Offer

Jos. A. Bank Clothiers Inc. (Hampstead, Md.) has decided to withdraw its $2.3 billion offer for Men's Wearhouse Inc. (Houston).

After being rebuffed twice by Men’s Wearhouse management, Jos. A. Bank said that if the Men’s Wearhouse board decides in the future that it wants to discuss a potential acquisition, or if circumstances otherwise change, it may consider a new bid.

After the first Bank offer, in September, Men's Wearhouse called it “opportunistic” and “inadequate.”

After the second bid was rejected, with Men’s Wearhouse directors refusing access to nonpublic information, major shareholders urged the company to reconsider. But the deadline has now passed and the deal appears dead.