Jos. A. Bank lowers shareholder rights plan ownership threshold to 10%

|About: Jos. A. Bank Clothiers, Inc. (JOSB)|By:, SA News Editor

The board of Jos. A. Bank (JOSB) amends the company's shareholder rights plan to reduce the ownership threshold to 10% of outstanding shares from 20% previously.

[I]n light of the hostile actions the Men's Wearhouse, Inc. (MW) has taken and threatened to take against the Company [...] the Board felt it was appropriate to protect the Company's shareholders by leveling the playing field and ensuring that the Jos. A. Banks Rights agreement has the same triggering ownership threshold as that of the Men's Wearhouse Rights Agreement."