Men’s Wearhouse moved Monday to pin Jos. A. Bank Clothiers in a corner with a hostile $1.6 billion bid for its smaller rival.With the offer of $57.50 cash for each of Hampstead-based Bank’s outstanding shares, Men’s Wearhouse is bypassing the retailer’s management to appeal directly to shareholders.The so-called hostile takeover bid is the latest volley in the war to control a merger that analysts now see as all but inevitable. “There are investors that want to see this deal get done and will hold management to the fire one way or another; that’s the bottom line,” said Steven C. Isberg, associate professor of finance at the University of Baltimore’s Merrick School of Business. “What this is going to come down to is which management team is going to be left standing at the end of the deal.”Analysts anticipate the nation’s No. 1 and No. 2 men’s apparel retailers eventually will merge because such a deal would create a stronger chain better able to compete with department stores.Isberg and others said they wouldn’t be surprised if Bank comes back with a hostile offer of its own.”It would not be inconceivable for Jos. A. Bank to do the same thing and have… Read full this story
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