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Stock Market & Financial Investment News

News Breaks
January 3, 2014
09:02 EDTMW, JOSBJoS. A. Bank approves amendment of shareholder rights plan
Jos. A. Bank Clothiers (JOSB) announced that its board has approved an amendment to its shareholder rights plan to, among other things, reduce the ownership threshold to 10% from 20% of outstanding common shares. The company said that in light of the hostile actions The Men's Wearhouse (MW) has taken and threatened to take against the company, which are not in the best interest of the company's shareholders, the board felt it was appropriate to protect the company's shareholders by leveling the playing field and ensuring that the Jos. A. Bank Rights Agreement has the same triggering ownership threshold as that of the Men's Wearhouse Rights Agreement. On December 23, 2013, the Jos. A Bank board unanimously rejected a non-binding acquisition proposal by Men's Wearhouse based on its determination that the proposal significantly undervalued the company and its near and long-term potential.
News For JOSB;MW From The Last 14 Days
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September 2, 2015
12:13 EDTMWMen's Wearhouse November calls active
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August 20, 2015
09:00 EDTMWMen's Wearhouse selloff a buying opportunity, says Jefferies
Jefferies analyst Edward Plank views the recent selloff in shares of Men's Wearhouse as a buying opportunity. Much of the back-end integration risk from Jos. A. Bank has now passed, and margin improvement should follow, Plank tells investors in a research note. The analyst's FY18 bull case suggests a price target of $100, or 75% upside from current levels, versus a bear case of $47, or 20% downside. He keeps a Buy rating on Men's Wearhouse with a $67 price target.

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