Men’s Wearhouse offered Jos. A. Bank Clothiers about $1.6 billion to acquire the rival company after its initial offer of $1.5 billion was turned down in December. The move comes as Jos. A. Bank changes its shareholder rights plan to have a 10 percent ownership threshold for its “poison pill.” The two clothing retailers have been attempting to buy each other out since October when Jos. A. Bank offered to buy Men’s Wearhouse for $2.3 billion. Read The Washington Post story here.

