Business

Activist suits up for Jos. A. Bank

Jos. A. Bank is being fitted for a new suit — a lawsuit, that is.

Activist investment firm Eminence Capital said Monday it is suing Jos. A. Bank to force it into merger talks with arch rival Men’s Wearhouse, which has launched a hostile $1.6 billion takeover bid.

Eminence likewise sued to block Jos. A. Bank from potentially acquiring another company itself — a move that Jos. A. Bank recently said it is weighing, and which could derail a deal with Men’s Wearhouse.

“We firmly believe that you will not be able to deliver comparable value to shareholders through any other strategic transaction or action available to you,” Eminence CEO Ricky Sandler wrote in a letter to Jos. A. Bank’s board.

Jos. A. Bank shares closed Monday at $56.41, versus the $57.50 that has been offered by Men’s Wearhouse.