Houston-based Men’s Wearhouse said that its board has rejected an unsolicited $2.3 billion bid by rival Jos. A. Bank to acquire the men’s wear chain. It said that the offer wasn’t in the best interest of the company or its shareholders.
Men’s Wearhouse Inc. has dismissed its founder and executive chairman George Zimmer, who opened his first store in Texas. So far, the company hasn’t given a reason for the abrupt firing.