By Karlee Weinmann ( December 11, 2013, 1:33 PM EST) -- Tensions between the top-ranking executives at Men's Wearhouse Inc. and Jos. A. Bank Clothiers Inc. have prevented the companies from making headway on the latest tie-up proposal to cross their desks: a $1.5 billion takeover offer from Men's Wearhouse, according to a Wednesday report from Bloomberg. The negotiation process has been complicated from the beginning, when Texas-based Men's Wearhouse repeatedly rejected a private equity-backed $2.3 billion merger bid from its smaller rival, insisting it was the more promising company. For its part, Jos. A. Bank has laid out a case as to why it is the superior retailer, locking both management teams in a stalemate. Adding to the complexity of the takeover battle is that the executives' jobs are on the line: One team will likely receive a hefty payout but will lose their positions, while the other will stay at the helm of the combined company, should a deal win approvals....