Jos. A. Bank Clothiers (JOSB) announced Thursday that its board has unanimously rejected larger rival Men's Wearhouse Inc.'s (MW) sweetened $63.50 per share unsolicited offer to acquire it as inadequate, but said it is open to discussions on a possible deal and a further sweetened offer.
Jos. A. Bank gapped open sharply higher Friday, but was range-bound throughout the session. Shares finished with a gain of 1.78 at $62.08 on above average volume. The stock jumped to a new high for the year.
Men's Wearhouse gapped up sharply Friday and climbed until around 1:30PM, before settling into a range. The stock closed up by 3.37 at $53.79 and broke out to a new high for the year.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.