Jos. A. Bank Rebuffing Offer Weakens Traders’ Resolve: Real M&A

Jos. A. Bank Clothiers Inc.’s resistance to a merger with rival Men’s Wearhouse Inc. is wearing down traders who are passing on the chance to reap some of the biggest gains among pending takeovers.

Jos. A. Bank said this week that Men’s Wearhouse’s $57.50-a-share bid is too low and that it sees no reason to enter negotiations. The stock has fallen more than 7 percent below that price, signaling investors don’t expect the companies to work out a deal, even though Men’s Wearhouse has said it may be willing to increase the offer and Jos. A. Bank kicked off the bidding in the first place.