Jos. A. Bank rejects Men's Wearhouse takeover offer By Aditi Shrivastava (Reuters) - Jos. A. Bank Clothiers Inc (JOSB.O) has rejected a $1.5 billion takeover offer from suit retailer Men's Wearhouse Inc (MW.N), frustrating attempts by its larger rival to appease shareholder hunger for a merger. Shares in Men's Wearhouse, under pressure from activist investors to merge, fell 2 percent before the bell on Monday. Men's Wearhouse last month offered $55 per share for Jos. A. Bank, turning the tables on its smaller rival only weeks after Jos. A. Bank bid for Men's Wearhouse. "Our board undertook a thorough review and determined that the per-share consideration in the proposal made to us by Men's Wearhouse was simply not in the best interest of our shareholders," Jos. A. Bank Chairman Robert Wildrick said. A. Bank, a century-old seller of men's tailored and casual clothing, said it would consider "strategic acquisition opportunities" but did not give details. Last month's retaliatory offer from Men's Wearhouse followed pressure from its largest shareholder, New York-based hedge fund Eminence Capital LLC. Eminence, along with other hedge funds that hold around a third of Men's Wearhouse shares, had tried to convince other investors to pressure the company into accepting the takeover offer from Jos. A. Bank. "Men's Wearhouse offered a very fair deal that provides certainty of value for a business in Jos A. Bank that has an uncertain future, given competitive forces and limited growth prospects," Brian Sozzi, chief executive of Belus Capital Advisors, told Reuters on Monday. "When the team at Jos A. Bank moves beyond its eggnog-induced hangover and hurt feelings, I suspect the two companies will merge as it's necessary to prepare both businesses for the future of retailing," he said. Men's Wearhouse was not immediately available for comment. The Fremont, California-based company operates more than 1,100 stores under the Men's Wearhouse, Moores and K&G banners. A. Bank has more than 600 U.S. stores. Men's Wearhouse shares were down 2 percent at $51.00 in premarket trading on the New York Stock Exchange. A. Bank's Nasdaq-traded shares were also down 2 percent before the bell. Writing by Robin Paxton; Editing by Joyjeet Das and Rodney Joyce