The Men’s Wearhouse boosts bid for Jos. A. Bank

Associated Press

FREMONT, Calif.

Despite rebuked overtures on both sides, The Men’s Wearhouse and Jos. A. Bank could wind up together for better or worse.

The courtship to combine the two men’s clothing companies has dragged on for months, with each chain having its offer to acquire the other rebuffed. And the saga to combine the two rivals took another turn Monday when Men’s Wearhouse boosted its offer to acquire Jos. A. Bank to $1.61 billion.

Though the companies continue to play hard to get, analysts say a combination is inevitable. It would enable both chains to cut costs and boost profits in an increasingly competitive market in which shoppers are scrutinizing their purchases more.

The Men’s Wearhouse Inc. now is offering $57.50 per share for Jos. A. Bank, up from its prior offer of $55 per share, or $1.54 billion. Jos. A. Bank rejected the previous offer in late December, saying it was too low.