Men's Wearhouse says prepared to raise JoS. A. Bank bid if added value uncovered The Men's Wearhouse (MW) made public a letter its sent to the independent directors of Jos. A. Bank Clothiers (JOSB) regarding Men's Wearhouse's all-cash offer to acquire Jos. A. Bank for $57.50 per share. In the letter, Men's Wearhouse stated in part: "As we have made clear, our strong preference is to work collaboratively with the JOSB Board and management to realize the benefits of this combination. Our offer would provide your shareholders with a substantial premium and immediate and certain value...we urge you to form a special committee of independent directors to re-consider Men's Wearhouse's offer and the JOSB Board's decision to reject it...we are prepared to increase our offer price if you can demonstrate or we can discover additional value through discussions or limited due diligence...With this compelling offer on the table and our mutual belief in the strategic and financial value of combining our companies, we urge you to do what is right for your shareholders and form a special committee of independent directors and enter constructive negotiations with us immediately."
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