Men’s Wearhouse (MW) launched a hostile bid to acquire Jos. A. Bank Clothiers (JOSB) for roughly $1.6 billion, raising its initial offer to continue the retailers’ back-and-forth takeover battle.

Men’s Wearhouse said Monday it commenced a tender offer to buy its smaller rival for $57.50 a share in cash, a 5.7% premium over Friday’s close and 52% above Jos. A. Bank’s share price before its buyout offer in October.

The tender offer is set to expire on March 28. Men’s Wearhouse also said it intends to nominate two directors, John D. Bowlin and Arthur E. Reiner, to Jos. A. Bank’s board.

“Although we have made clear our strong preference to work collaboratively with Jos. A. Bank to realize the benefits of this transaction, we are committed to this combination and, accordingly, we are taking our offer directly to shareholders,” Men’s Wearhouse CEO Doug Ewert said in a statement.

Jos. A. Bank said it will review the latest takeover proposal and release a decision by Jan. 17. The company also urged shareholders not to take any action until it makes the announcement.

In November, Houston-based Men’s Wearhouse offered $1.5 billion, or $55 a share, for Jos. A. Bank, which rejected the bid about a month later.

Jos. A. Bank, a Hampstead, Md.-based suit seller, started the tug-of-war with an unsolicited $2.3 billion offer for Men’s Wearhouse in early October. Jos. A. Bank then said it would consider raising its bid in exchange for limited due diligence, but Men’s Wearhouse again rejected the offer.

Last week, Jos. A. Bank amended its shareholder rights plan to lower its ownership threshold to 10% from 20%, citing “hostile actions” by Men’s Wearhouse that “are not in the best interest of the company’s shareholders.”

Shares of Men’s Wearhouse rose 2.4% to $51.83 early Monday afternoon. Jos. A. Bank popped 4.4% to $56.80.

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