Men’s Wearhouse operates its stores in the US under the brand names of Men’s Wearhouse, Men’s Wearhouse & Tux, and K&G. It also operates across ten provinces of Canada, under brand, Moores Clothing for Men.

Last month, Men’s Wearhouse’s board had rejected an unsolicited takeover bid from retailer JoS. A. Bank of $48 per share in cash, representing a total equity value of about $2.3bn.

Men’s Wearhouse board had noted that the proposal significantly undervalues the company and its strong prospects for continued growth and value creation.

The board also opined that the offer is not in the best interests of the company or its shareholders.

Eminence, in a letter sent to Men’s Wearhouse, noted that while they agree with Men’s Wearhouse that the takeover offer from Jos A. Bank undervalues the company, they believe that the board’s other reasons for rejecting the proposal are not without merit.

"We believe there are significant synergies available to a Men’s Wearhouse-Jos. A. Bank combination giving the buyer substantial room to pay above a fair stand-alone price and still earn a healthy return.

"Therefore, we believe there is a price materially above $48 that Jos. A Bank should be willing to pay and that appropriately compensates Men’s Wearhouse shareholders," Eminence added.

Men’s Wearhouse had also adopted a shareholder rights plan after rejecting the offer.

Men’s Wearhouse product portfolio includes suits, slacks, sport coats, formal wear, sportswear, business casual, outerwear, dress shirts, shoes and accessories.

The company also offers services such as retail dry cleaning and a corporate apparel and uniform program.

The company operates around 1,137 retail stores across the US and Canada.