The Men's Wearhouse (MW) has turned the tables on Jos. A Bank (JOSB) by offering to acquire the rival in a deal worth approximately $1.2 billion. This move comes after Jos. A Bank's offer to acquire the Men's Wearhouse was rejected earlier in the year. The Men's Wearhouse is offering $55 per share to acquire its competitor which amounts to a 8.7% premium to yesterday's closing price and a 32% premium to the October 8th closing price -- the day Jos. A Bank made public its offer to acquire the Men's Wearhouse. On the news, shares of both companies were trading higher today.
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