Men's Wearhouse turns tables on former suitor Men's Wearhouse, the discount retailer, has turned the tables on its former suitor Jos A Bank by launching a $1.2bn bid to acquire the company whose own takeover offer it twice rebuffed. Men's Wearhouse on Tuesday announced a proposal to acquire Jos A Bank for $55 per share, whic it said was a 45 per cent premium over Jos A Bank's share price before it launched its bid for Men's Wearhouse in October. Jos A Bank's shares rose 11.7 per cent to $56.60 in pre-market trading, topping the offer. Shares of Men's Wearhouse rose 7.2 per cent to $50.47. Earlier this month Jos A Bank walked away from its own $48 per share bid for the Men's Wearhouse, which valued it at $2.3bn. Jos A Bank cited a failure by the Men's Wearhouse board to enter into any dialogue over a possible deal. Bill Sechrest, lead director of the board of Men's Wearhouse, said in a statement on Tuesday: "We are ready to engage with the Jos A Bank's board immediately." After a thorough review, our board concluded that an acquisition of Jos. A. Bank by Men's Wearhouse has strategic logic and the potential to deliver substantial benefits to our respective shareholders, employees and customers. Men's Wearhouse had also adopted a poison pill to prevent a hostile takeover.