This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

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

Douglas S. Ewert Chief Executive Officer The Men's Wearhouse, Inc. 6380 Rogerdale Road Houston, TX  77072

Dear Doug:

It was a pleasure speaking with you today — thank you for taking my call.  We have been in the same industry for many years, and it was nice to finally meet you, if only by phone.  I have always had a tremendous amount of respect and admiration for your company, your people, the quality of your brand and the success of your business model. In many ways, this foundation of respect for the business and talent within your organization is what led us to consider and now present you with the proposal I described on the phone.  As we discussed, on behalf of Jos. A. Bank Clothiers, Inc. ("Jos. A. Bank"), I am pleased to send this letter summarizing our proposal to acquire The Men's Wearhouse, Inc. (the "Company" or "Men's Wearhouse") in an all-cash acquisition of 100% of the Company's outstanding shares (the "Transaction").

We believe that Men's Wearhouse and Jos. A. Bank are ideal partners — the strategic wisdom of this Transaction is compelling.  By combining our two companies, we can together create the best men's apparel and sportswear designer, manufacturer and retailer in the U.S. We believe that a combination would leverage and enhance Jos. A. Bank's and Men's Wearhouse's complementary market positioning because our two companies can better serve all customers with an impressive portfolio of branded men's apparel and sportswear at various price points. In addition to capturing operating synergies, the combined company would offer a larger platform from which we can together optimize and expand our real estate footprint, strengthen our merchandising and sourcing capabilities, and enhance our omni-channel strategies in a rapidly evolving retail landscape.

From a professional standpoint, the management and employees of both companies should find the combination compelling as well.  The philosophy of Jos. A. Bank has always been to provide opportunities for the most qualified of our managers and associates. We also believe in a strong corporate culture where employees are treated with respect and offered a chance to excel at their jobs.  After all, we are in a service business where our sales associates and field personnel are ultimately responsible for the quality and success of our customer interactions. Our approach to managing our human capital will not change if we combine our two great companies.

4 of 7

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $95.18 1.64%
FB $117.43 -0.96%
GOOG $692.36 -0.84%
TSLA $232.32 -3.92%
YHOO $36.01 -1.42%


Chart of I:DJI
DOW 17,750.91 -140.25 -0.78%
S&P 500 2,063.37 -18.06 -0.87%
NASDAQ 4,763.2240 -54.37 -1.13%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs