After harshly rejecting a buyout bid from rival Jos. A. Bank, Men’s Wearhouse has struck back with a bid of its own for the competitor.
Just weeks following Jos. A. Bank’s offer, Men’s Wearhouse has offered $1.5 billion to buy the company, a move reports describe as “unusual.”
Men’s Wearhouse is under pressure from stockholders to merge, the largest of which – Eminence Capital LLC – reportedly told other shareholders to encourage Men’s Wearhouse to accept Jos. A. Bank’s offer.
The strategy of a company making its own offer for a firm by which it was previously targeted for takeover is known as a Pac-Man defense. Jos. A. Bank offered to buy Men’s Wearhouse in October for $2.3 billion.
Full Content: Reuters
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Google and South Carolina Clash Over State Records Demand
May 8, 2024 by
CPI
Telefonica Germany Teams Up with Amazon Web Services to Migrate 5G Customers
May 8, 2024 by
CPI
Federal Judge Grants $7.4 Million Settlement in Pork Price-Fixing Case
May 8, 2024 by
CPI
Wilson Sonsini Bolsters Antitrust and Competition Practice with Key Partner Returns
May 8, 2024 by
CPI
EU to Scrutinize Telecom Italia’s Network Sale to KKR
May 8, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI