By and  on January 6, 2014

Shrugging off an earlier rejection, The Men’s Wearhouse has taken its offer to acquire archrival Jos. A. Bank Clothiers directly to Bank’s shareholders.

Early Monday morning, the Fremont, Calif.-based Men’s Wearhouse, which has been mired in a back-and-forth battle to acquire or be acquired by Bank since the fall, commenced a cash tender offer to acquire all the outstanding shares of Bank for $57.50 a share, or about $1.61 billion, 4.5 percent higher than the $55 a share, or $1.54 billion, offered in November and rejected by Bank’s board on Dec. 23.

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