Investors were eager for the two companies to reach a deal.
Hedge Fund Eminence Capital, which owns nearly 10% of Men's Wearhouse and nearly 5% of Jos. A. Bank, was on record as saying a merger was in the best interest of shareholders of both companies.
Jos. A. Bank took numerous steps to fight off the offers from Men's Wearhouse. In February it announced a deal to buy outdoor clothing company
Eddie Bauer for $825 million in cash and stock. But with Tuesday's announcement, that deal was terminated.