Jos. A. Bank recommends rejection of Men's Wearhouse's $57.50/share offer


The board of Jos. A. Bank (JOSB +0.7%) recommends that shareholders reject Men's Wearhouse (MW -1.3%) "unsolicited, highly conditional" $57.50/share tender offer.

Among deficiencies listed in the board's recommendation: "the Offer significantly undervalues Jos. A. Bank [...] Men's Wearhouse's true motives are unclear and its commitment to the Offer is not credible [...] [and] the Offer fails to appropriately compensate the Company's stockholders for the significant synergies that Men's Wearhouse claims would be created by a business combination."

Comments (1)
  • Randal James
    , contributor
    Comments (4415) | Send Message
     
    Hey, MW! Hire another smooth talker with a beard (No, not Larry Ellison. Maybe the actor who is The Most Interesting Man In The World. If he's sober) Take the money you were going to spend on this POS (I'm not sure - I think it is point-of-sale or something), update your downtrodden locations and open a slew of new ones in JOSB neighborhoods. In a year or two, after their going-out-of-business sales are over, you'll have all the benefits of a near monopoly and none of the headaches of dealing with these empty shirts. [Buy One, get Two FREE!]
    17 Jan 2014, 04:44 PM Reply Like
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