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Jos. A. Bank board rejects unsolicited tender offer from Men's Wearhouse

( January 17, 2014, 22:00 GMT | Official Statement) -- MLex Summary: Men's apparel retailer Jos. A. Bank Clothiers' board of directors recommended its shareholders reject Men's Wearhouse's offer for $57.50 a share on Friday. The board said the offer is inadequate, significantly undervalues the company and is not in the best interest of shareholders. Jos. A. Bank's shares trade on Nasdaq and Men's Wearhouse shares trade on the New York Stock Exchange.Statement follows in full....

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