Consumer shares were mixed in pre-bell trading Monday.
In consumer sector news, shares in Jos. A. Banks Clothiers (
) were down almost 4% pre-market after the company sent a letter to
The Men's Wearhouse (
) rejecting a $57.50 takeover bid, saying it sees no benefit in
beginning negotiations with its rival as the offer substantially
undervalues the company.
According to a report from Bloomberg News this morning, Jos. A.
Banks is instead looking at acquisitions of its own and has been in
talks with Eddie Bauer. The two parties have held preliminary
talks, the news agency said, citing unnamed sources.
And, Roundy's (
) said it has made a filing with the SEC relating to a proposed
public sale of more than 8.8 million shares, of which 5.9 million
will be sold by certain selling shareholders. The remaining shares
will be sold by the company. Underwriters will have a 30-day option
to buy another 1.33 million shares.
The operator of the retail grocery stores and pharmacies plans
to use the net proceeds for general corporate purposes, including
costs to build out the Chicago stores acquired from Safeway.
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