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Stock Market & Financial Investment News

News Breaks
February 24, 2014
08:04 EDTMW, JOSBMen's Wearhouse ups offer for Jos. A. Bank to $63.50/share, says could go to $65
The Men's Wearhouse (MW) announced that it has increased its cash tender offer for all outstanding shares of Jos. A. Bank Clothiers (JOSB) to $63.50 per share from $57.50 per share. Expiration of the amended tender offer has been moved up to 5:00 p.m., New York City time on Wednesday, March 12, unless the offer is extended. Men's Wearhouse said it "strongly encourages" Jos. A. Bank shareholders to tender their shares by the 5:00 pm, March 12 expiration date to demonstrate support for a negotiated transaction with Men's Wearhouse. "Men's Wearhouse believes that shareholder support is critical in bringing about a successful combination of the two companies," the company said. Men's Wearhouse said it could potentially increase its offer price to $65.00 per share if it is able to conduct limited due diligence, subject to an appropriate confidentiality agreement, with access to Jos. A. Bank's management team. In addition, the amended offer is conditioned on termination of Jos. A. Bank's recently announced agreement to acquire Eddie Bauer, and Men's Wearhouse will increase the aggregate consideration to be paid to the Jos. A. Bank stockholders dollar-for-dollar to the extent Jos. A. Bank is able to terminate the Eddie Bauer purchase agreement for less than $48M in termination fees, less any other expense or fee reimbursement paid by Jos. A. Bank in connection with such termination.
News For JOSB;MW From The Last 14 Days
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December 18, 2014
16:55 EDTMWEminence Capital reports 11.9% stake in Men's Wearhouse
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16:34 EDTMWMen's Wearhouse, Eminence in standstill agreement amendment
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December 11, 2014
10:21 EDTMWHigh option volume stocks
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December 10, 2014
19:18 EDTMWMen's Wearhouse reports Q3 adjusted EPS 83c, consensus 87c
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18:31 EDTMWOn The Fly: After Hours Movers
UP AFTER EARNINGS: Restoration Hardware (RH), up 5.9%... Casey's General Stores (CASY), up 1.6%. ALSO HIGHER: Walgreen (WAG), up 1.7% after CEO Greg Wasson announces intention to retire after Alliance merger. DOWN AFTER EARNINGS: Wet Seal (WTSL), down 38.9%... Lakeland Industries (LAKE), down 8.2%... Men's Wearhouse (MW), down fractionally. ALSO LOWER: Burlington Stores (BURL), down 1.4% after filing to sell 8M shares of common stock for holders... Nielsen (NLSN), down 1.9% after filing to sell 20M shares of common stock for holders.
15:25 EDTMWNotable companies reporting after market close
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14:41 EDTMWMen's Wearhouse volatility increases into Q3 and outlook
Men's Wearhouse December call option implied volatility is at 69, January is at 43, February is at 36; compared to its 26-week average of 34 according to Track Data, suggesting large near term price movement into the expected release of Q3 results.

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