Men's Wearhouse is stepping up its pursuit of Jos A Bank Clothiers Inc, boosting the takeover offer for its rival by 10 per cent to about $US1.78 billion ($A1.99 billion).
The move comes 10 days after Jos A Bank announced that it was planning to buy the parent company of Eddie Bauer in a cash-and-stock deal valued at $US825 million.
Men's Wearhouse Inc said on Monday it's now offering $US63.50 per share, up from its prior $US57.50 per share bid. The new offer is conditioned on Jos A Bank ending its deal for Eddie Bauer.
Men's Wearhouse said it may raise its Jos A Bank bid to $US65 per share if able to examine its books with access to Jos A Bank's management team.
Shares of both companies rose in premarket trading.
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