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The Men's Wearhouse, Inc. Message Board

  • zacklabster zacklabster Nov 15, 2013 9:43 AM Flag

    Barely a ripple after JOSB walks away

    My guess is that the market is counting on Eminence to pressure MW to act. Pressing for new s/h meeting is first salvo.

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    • Sounds like Jos. A. Bank did the old "walking away" from the deal tactic. Eminence may look to try and remove the board members of MW who were against selling at $48.

    • HAMPSTEAD, Md. , Nov. 15, 2013 (GLOBE NEWSWIRE) -- In response to inquiries, Jos. A. Bank Clothiers, Inc. (Nasdaq:JOSB) today made the following statement with respect to the actions Eminence Capital has taken regarding The Men's Wearhouse, Inc. (NYSE:MW):
      "This is a matter between the Men's Wearhouse Board and its shareholders. We made a bona fide, friendly proposal to acquire Men's Wearhouse for $48 per share in cash, or possibly more if the company could demonstrate greater value through limited due diligence. The Men's Wearhouse board rejected our $48 proposal on October 9 and has refused to engage with us since. As a result, we terminated our proposal earlier today in order to consider other strategic alternatives which we have been investigating. We strongly believe that a transaction would be in the best interest of both companies, our respective shareholders, and the industry. Should the Men's Wearhouse Board change its stance, we would immediately consider whether a new proposal to acquire Men's Wearhouse is warranted."