Developing: Jos. A. Bank (NASDAQ:JOSB) said Thursday it would agree to meet with Men's Wearhouse (NYSE:MW) over a hostile offer to buy the men's clothing company.
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Far from reaching a truce, however, Jos. A. Bank said the last offer from Men's Wearhouse of $63.50 a share was insufficient.
Men's Wearhouse has made repeated attempts at buying Jos. A. Bank, but the company has repeatedly rebuffed them as being inadequate.
Jos. A. Bank's shares rallied more than 4% in extended trading, while Men's Wearhouse traded near the flat-line.