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February 27, 2014 AT 1:24 PM
Jos. A. Bank said on Thursday that its board had rejected Men’s Wearhouse‘s newest takeover bid, worth nearly $1.8 billion, but said that it was willing to meet to try and agree on a higher price. The move is the latest turn in a drama that has played out publicly for months, beginning with Bank making an unsolicited and ultimately failed bid to buy its larger rival. Men’s Wearhouse then turned the tables, going hostile with its own takeover offer.