Headlines

Men’s Wearhouse Makes Another Bid for Jos. A. Bank

New offer is worth about $1.8 billion

Published

10 years ago

February 25, 2014

steve kaufman

Men’s Wearhouse Inc. (Houston) is persisting in its effort to acquire Jos. A. Bank Clothiers Inc. (Hampstead, Md.), raising its most recent bid by 10 percent, to about $1.78 billion.

The offer, which expires March 12, 2014, will be greater if Jos. A. Bank agrees to terminate its deal to buy Eddie Bauer (and if Men’s Wearhouse is permitted to conduct due diligence).

Jos. A. Bank said in a statement it would review “all aspects” of the offer and urged shareholders not to take action until the board makes a recommendation.

Ricky Sandler, ceo of Eminence Capital LLC, a New York-based hedge fund with holdings in both retail organizations, said the offer “clearly represents a superior alternative” for shareholders over a combination with Eddie Bauer.

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