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Jos. A. Bank Confirms Proposal To Acquire Men's Wearhouse For $48 Per Share In Cash

Stocks in this article: JOSB

Since the current management team started in November 1999, Jos. A. Bank has an exceptional track record of generating long-term growth and shareholder value: its share price has grown at a compound annual growth rate of 30%, vs. a 1.6% annualized return of the S&P 500, and ahead of nearly all specialty retail peers. During the same period, Jos. A. Bank's market capitalization has appreciated over 4,300% compared to an approximately 25% increase for the S&P 500.

Goldman, Sachs & Co. and Financo, LLC are serving as financial advisors and Skadden, Arps, Slate, Meagher & Flom LLP and Guilfoil Petzall & Shoemake, L.L.C. are serving as legal advisors to Jos. A. Bank. 

Jos. A. Bank's proposal is a preliminary, non-binding indication of interest to acquire the outstanding shares of Men's Wearhouse, and was submitted based on the understanding that it is not an offer that is capable of being accepted, and that there will be no binding agreement between Jos. A. Bank and Men's Wearhouse or any commitment or obligation on Jos. A. Bank or Men's Wearhouse with respect to Jos. A. Bank's proposal or a possible transaction unless and until a definitive agreement is executed by Jos. A. Bank and Men's Wearhouse.  Jos. A. Bank's proposal is subject to a number of conditions, including, among others, Jos. A. Bank's satisfaction with the results of its due diligence review of Men's Wearhouse in Jos. A. Bank's sole discretion, negotiation and execution of a mutually satisfactory merger agreement, approval of a transaction by Jos. A. Bank's Board of Directors, and negotiating and entering into satisfactory definitive equity and debt financing agreements.

To Access Further Information About the Proposed Transaction:

Jos. A. Bank has posted on its website a presentation that provides further detail surrounding the proposed transaction. Go to and click "Investor Presentation Regarding Men's Wearhouse Proposal" icon to access the information.

Text of the September 18, 2013 Letter Sent to the Chief Executive Officer of Men's Wearhouse:

September 18, 2013

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