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Feb. 14, 2014 /PRNewswire/ -- The Men's Wearhouse (NYSE: MW) today issued the following statement in response to the
February 14, 2014 announcement that Jos. A. Bank Clothiers, Inc. (Nasdaq: JOSB) has entered into a definitive agreement to acquire
In light of Jos. A. Bank's decision not to engage in discussions with Men's Wearhouse about a combination that would provide Jos. A. Bank shareholders with a substantial premium and immediate and certain value, the Board of Directors of Men's Wearhouse, together with its financial and legal advisors, will evaluate Men's Wearhouse's options with respect to Jos. A. Bank.
As previously announced on
January 6, 2014, Men's Wearhouse commenced a cash tender offer to acquire all outstanding shares of Jos. A. Bank Clothiers, Inc. (Nasdaq: JOSB) for
$57.50 per share. The tender offer is scheduled to expire at
New York City time on
Friday, March 28, 2014, unless the offer is extended. Consummation of the offer is not conditioned upon any financing arrangements or subject to a financing condition. The full terms, conditions and other details of the tender offer are set forth in the offering documents that Men's Wearhouse have been filed with the Securities and Exchange Commission.
Also as previously announced, Men's Wearhouse has formally submitted its notice to nominate two independent director candidates,
John D. Bowlin and
Arthur E. Reiner, for election to the Jos.
A. Bank Board of Directors at its 2014 Annual Meeting.
BofA Merrill Lynch and J.P. Morgan Securities LLC are serving as financial advisors to Men's Wearhouse,
Willkie Farr & Gallagher LLP is serving as legal advisor and MacKenzie Partners, Inc., is serving as information agent.
Founded in 1973, Men's Wearhouse is one of
North America's largest specialty retailers of men's apparel with 1,133 stores. The Men's Wearhouse, Moores and K&G stores carry a full selection of suits, sport coats, furnishings and accessories in exclusive and non-exclusive merchandise brands and Men's Wearhouse and Tux stores carry a limited selection. Most K&G stores carry a full selection of women's apparel. Tuxedo rentals are available in the Men's Wearhouse, Moores and Men's Wearhouse and Tux stores. Additionally, Men's Wearhouse operates a global corporate apparel and workwear group consisting of Twin Hill in
the United States and Dimensions, Alexandra and Yaffy in the United Kingdom. Investors can find additional information at