This morning, Men's Wearhouse (MW) strengthened its bid for Jos. A. Bank (JOSB) from $55 per share up to $57.50 as activist investors continue to push the two companies to merge. The increased bid by Men's Wearhouse comes just days after Jos. A. Bank reduced its threshold from 20% to 10% for the shareholder rights plan. On the news, shares of Jos. A. Bank were higher by 3.9%, while shares of Men's Wearhouse were higher by 1.2%.
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