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Stock Market & Financial Investment News

News Breaks
February 24, 2014
08:04 EDTJOSB, MWMen'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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October 20, 2014
17:26 EDTMWSAB Capital Advisors reports 5.1% passive stake in Men's Wearhouse
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