Content about JoS. A. Bank Clothiers

September 11, 2014

Non-deductible costs related to the purchase of Jos. A. Bank helped sharply reduce net earnings at The Men’s Wearhouse during the second quarter of fiscal 2014.

Fremont, Calif. – Non-deductible costs related to the purchase of Jos. A. Bank helped sharply reduce net earnings at The Men’s Wearhouse during the second quarter of fiscal 2014. The Men’s Wearhouse reported net earnings of $12.3 million, down 71% from $42.9 million the same period a year earlier, although the total still beat Wall Street projections.

September 3, 2014

Jos. A. Bank has reached an early termination agreement with Jim's Formal Wear, effective Dec. 31.

Fremont, Calif. - Jos. A. Bank has reached an early termination agreement with Jim's Formal Wear, effective Dec. 31. The company will record a one-time charge of $4.5 million in its fiscal 2014 third quarter in connection with early termination of this contract to supply tuxedo rental inventory and logistics.

June 18, 2014

The Men's Wearhouse has completed its acquisition of one-time-rival Jos. A. Bank Clothiers.

Fremont, Calif. -- The Men's Wearhouse has completed its acquisition of one-time-rival Jos. A. Bank Clothiers. The combined company has more than 1,700 stores, approximately 26,000 employees and sales of $3.5 billion on a pro forma basis.

The final price tag to combine the two retailers was $1.8 billion, or $65 per share.

June 6, 2014

The Men's Wearhouse has extended its all-cash tender offer for $65 per share for all of the currently outstanding shares of common stock (including associated stock purchase rights) of Jos. A. Bank to June 19, 2014, unless further amended. The tender offer was previously set to expire on June 5, 2014.

Fremont, Calif. — The Men's Wearhouse has extended its all-cash tender offer for $65 per share for all of the currently outstanding shares of common stock (including associated stock purchase rights) of Jos. A. Bank to June 19, 2014, unless further amended.  The tender offer was previously set to expire on June 5, 2014.

May 22, 2014

The Men's Wearhouse has extended its all-cash tender offer for $65 per share for all of the currently outstanding shares of common stock of Jos. A. Bank to June 5, unless further extended.

Fremont, Calif. - The Men's Wearhouse has extended its all-cash tender offer for $65 per share for all of the currently outstanding shares of common stock of Jos. A. Bank to June 5, unless further extended. The tender offer was previously set to expire on May 21.

May 8, 2014

In accordance with the terms of its merger agreement with Jos. A. Bank Clothiers Inc., The Men’s Wearhouse has extended its all-cash tender offer for $65 per share for all of the currently outstanding shares of common stock to May 21, 2014, unless further extended.

Fremont, Calif. - In accordance with the terms of its merger agreement with Jos. A. Bank Clothiers Inc., The Men’s Wearhouse has extended its all-cash tender offer for $65 per share for all of the currently outstanding shares of common stock to May 21, 2014, unless further extended. The tender offer was previously set to expire on May 7.

April 10, 2014

In accordance with the terms of its merger agreement with Jos. A. Bank Clothiers Inc., The Men’s Wearhouse has extended its all-cash tender offer for $65 per share for all of the currently outstanding shares of common stock (including associated stock purchase rights) of Jos. A. Bank to April 23, unless further extended.

Fremont, Calif. -- In accordance with the terms of its merger agreement with Jos. A. Bank Clothiers Inc., The Men’s Wearhouse has extended its all-cash tender offer for $65 per share for all of the currently outstanding shares of common stock (including associated stock purchase rights) of Jos. A. Bank to April 23, unless further extended.  

April 2, 2014

Jos. A. Bank Clothiers posted a profit of $27.4 million for the fourth quarter, down from $28.4 million in the year-ago period.

Hampstead, Md. – Jos. A. Bank Clothiers posted a profit of $27.4 million for the fourth quarter, down from $28.4 million in the year-ago period. The retailer’s earnings were impacted by legal and professional costs related to its upcoming acquisition by The Men’s Wearhouse and other strategic moves.

March 31, 2014

The Men's Wearhouse, Inc. has engaged the advisory firm, AlixPartners, to support its integration of Jos. A. Bank Clothiers, Inc.

Houston -- The Men's Wearhouse, Inc. has engaged the advisory firm, AlixPartners, to support its integration of Jos. A. Bank Clothiers, Inc. Jos. A. Bank's store banner will remain in place and management will consist of executives from both companies.

March 20, 2014

The Men's Wearhouse has extended the expiration date of its tender offer for all outstanding common shares of Jos. A. Bank, in accordance with terms of the March 11 merger agreement.

Fremont, Calif. -- The Men's Wearhouse has extended the expiration date of its tender offer for all outstanding common shares of Jos. A. Bank, in accordance with terms of the March 11 merger agreement. The offer and withdrawal rights are now scheduled to expire on April 9, 2014, unless further extended.

March 11, 2014

Ending a five-month saga, Men's Wearhouse said it would acquire Jos. A. Bank Clothiers for about $1.8 billion, or $65 per share in cash.

New York -- Ending a five-month saga, Men's Wearhouse said it would acquire Jos. A. Bank Clothiers for about $1.8 billion, or $65 per share in cash. As part of the deal, Jos. A. Bank will terminate its plan to acquire Eddie Bauer from Golden Gate Capital.
 
The boards of both companies unanimously  approved the transaction.

March 3, 2014

Men's Wearhouse Inc. and Jos. A. Bank Clothiers Inc. may be inching closer to a deal. Men’s Wearhouse announced that it had reached a nondisclosure agreement with its rival, setting up talks that could lead to a merger of the two retailers.

Fremont, Calif. -- Men's Wearhouse Inc. and Jos. A. Bank Clothiers Inc. may be inching closer to a deal. Men’s Wearhouse announced that it had reached a nondisclosure agreement with its rival, setting up talks that could lead to a merger of the two retailers. The two firms announced they are exchanging certain confidential information with each other and working in good faith to evaluate a potential combination.

As part of the agreement, Jos. A. Bank submitted a draft of a merger agreement to Men’s Wearhouse.

February 28, 2014

Jos. A. Bank Clothiers Inc. has officially rejected Men’s Wearhouse’s latest $1.78 billion buyout offer.

Hampstead, Md. – Jos. A. Bank Clothiers Inc. has officially rejected Men’s Wearhouse’s latest $1.78 billion buyout offer. But in yet another twist to the long-running saga between the two companies, in open letter to Men’s Wearhouse president and CEO Douglas S. Ewert, Jos. A. Bank said it is willing to meet with its rival.

February 24, 2014

Eminence Capital LLC, which owns 4.9% of the common stock of Jos. A. Bank Clothiers, Inc. has issued a statement in support of the new offer by The Men's Wearhouse for the company.

New York -- Eminence Capital LLC, which owns 4.9% of the common stock of Jos. A. Bank Clothiers, Inc. has issued a statement in support of the new offer by The Men's Wearhouse for the company. The statement, attributed to Eminence CEO Ricky C. Sandler, says that combining the two companies the best outcome for all shareholders.

February 24, 2014

Men's Wearhouse has increased its purchase offer for Jos. A. Bank Clothiers Inc. to $63.50 per share, or about $1.78 billion, from $57.50 per share, or about $1.6 billion.

Houston - Men's Wearhouse has increased its purchase offer for Jos. A. Bank Clothiers Inc. to $63.50 per share, or about $1.78 billion, from $57.50 per share, or about $1.6 billion.

The retailer said it may increase its bid to $65 a share, or about $1.82 billion, if Jos. A. Bank agrees to halt its planned acquisition of Eddie Bauer and lets Men’s Wearhouse conduct limited due diligence. On Feb. 14, Jos. A. Bank agreed to buy Eddie Bauer for $825 million, but reserved the right to terminate the deal if a superior transaction emerged.

February 19, 2014

Eminence Capital, LLC, which owns 4.9% of the common stock of Jos. A. Bank Clothiers, has sent a letter to the board of directors criticizing their announced acquisition of Eddie Bauer.

New York - Eminence Capital, LLC, which owns 4.9% of the common stock of Jos. A. Bank Clothiers, has sent a letter to the board of directors criticizing their announced acquisition of Eddie Bauer. According to the letter, signed by Eminence CEO Ricky Sandler, the nearly $900 million acquisition is a poor decision that has an excessive price which almost surely destroys shareholder value.

February 19, 2014

JoS. A. Bank Clothiers, Inc. has commenced a tender offer to purchase up to $300 million in value of shares of its common stock at a price of $65 per share.

Hampstead, Md. - JoS. A. Bank Clothiers, Inc. has commenced a tender offer to purchase up to $300 million in value of shares of its common stock at a price of $65 per share. The closing price of the company's common stock on Feb. 18, 2014 was $54.20 per share.

February 14, 2014

Jos. A. Bank Clothiers Inc. is buying the parent company of Eddie Bauer in a cash-and-stock deal valued at $825 million. The deal is the latest chapter in Jos A. Bank’s ongoing takeover battle with Men’s Wearhouse. Last fall, Jos. B. Bank tried and failed to buy rival Men’s Wearhouse for $2.3 billion. Men’s Wearhouse then began pursuing Jos. A. Bank.

Hampstead, Md. — Jos. A. Bank Clothiers Inc. is buying the parent company of Eddie Bauer in a cash-and-stock deal valued at $825 million. The deal is the latest chapter in Jos A. Bank’s ongoing takeover battle with Men’s Wearhouse. Last fall, Jos. B. Bank tried and failed to buy rival Men’s Wearhouse for $2.3 billion. Men’s Wearhouse then began pursuing Jos. A. Bank.

February 3, 2014

The correspondence between Jos. A. Bank and The Men’s Wearhouse continues, and it’s not all love letters.

Hampstead, Md. – The correspondence between Jos. A. Bank and The Men’s Wearhouse continues, and it’s not all love letters. In response to a letter sent Jan. 30 from the Men’s Wearhouse board urging Jos. A. Bank to reconsider its recent all-cash offer to acquire Jos. A. Bank for $57.50 per share, or about $1.6 billion, Jos. A. Bank — which rejected that offer on Jan. 20 — does not sound anxious to revisit it in the most recent letter it sent to Men’s Wearhouse president and CEO Doug Ewert.

January 30, 2014

The Men's Wearhouse has sent a letter to the independent directors of Jos. A. Bank Clothiers, Inc. urging them to consider Men's Wearhouse's recent all-cash offer to acquire Jos. A. Bank for $57.50 per share, or about $1.6 billion.

Fremont, Calif. -- The Men's Wearhouse has sent a letter to the independent directors of Jos. A. Bank Clothiers, Inc. urging them to consider Men's Wearhouse's recent all-cash offer to acquire Jos. A. Bank for $57.50 per share, or about $1.6 billion. Jos. A. Bank initially rejected the offer, which expires March 28, 2014, on Jan. 20.

January 30, 2014

Five major investors in Jos. A. Bank — who combined own 17% of the menswear retailer — have told the company’s board they support dialogue with rival menswear retailer Men’s Wearhouse about its proposed $1.6 billion buyout offer, Bloomberg reports.

Hampstead, Md. – Five major investors in Jos. A. Bank — who combined own 17% of the menswear retailer — have told the company’s board they support dialogue with rival menswear retailer Men’s Wearhouse about its proposed $1.6 billion buyout offer, Bloomberg reports. Jos. A. Bank rejected the offer, which is good until March 28, on Jan. 15, and Men’s Wearhouse has publicly called for Jos. A. Bank to reconsider and said it may raise the offer.

January 21, 2014

Eminence Capital, which owns 4.9% of the common stock of Jos. A. Bank Clothiers and has been pushing for a deal between the retailer and rival Men’s Wearhouse, has nominated two industry veterans for election as directors to the board at Jos. A. Bank's annual meeting.

New York -- Eminence Capital, which owns 4.9% of the common stock of Jos. A. Bank Clothiers and has been pushing for a deal between the retailer and rival Men’s Wearhouse, has nominated two industry veterans for election as directors to the board at Jos. A. Bank's annual meeting. The nominees include: Bruce J. Klatsky, former chairman of Phillips-Van Heusen Corporation, a position he held from 1994 until June 2007, and Norman S. Matthews, former president of Federated Department Stores and active and former board member of other retail and consumer companies.

January 20, 2014

The board of directors of Jos. A. Bank Clothiers, Inc. has officially rejected an unsolicited buyout offer from The Men’s Wearhouse.

Hampstead, Md. – The board of directors of Jos. A. Bank Clothiers, Inc. has officially rejected an unsolicited buyout offer from The Men’s Wearhouse. The offer, which expires March 28, 2014, is worth $57.50 per share, or about $1.6 billion.

Jos. A. Bank called the offer “inadequate and opportunistic” in announcing its rejection.

January 13, 2014

Eminence Capital, a 4.9% stakeholder in Jos. A. Bank and a 10% shareholder in Men’s Wearhouse, said it supports Men's Wearhouse's proposed acquisition of the company and demanded that Jos. A. Bank's board sit down and engage in "meaningful, good faith negotiations."

New York -- Eminence Capital, a 4.9% stakeholder in Jos. A. Bank and a 10% shareholder in Men’s Wearhouse, said it supports Men's Wearhouse's proposed acquisition of the company and demanded that Jos. A. Bank's board sit down and engage in "meaningful, good faith negotiations."

Efforts to merge the two retailers have dragged on for months, with each chain having their offers to acquire the other rejected.

January 6, 2014

The latest chapter in the continuing rivalry saga of The Men’s Wearhouse and Jos. A. Bank Clothiers, Inc. has opened with Men’s Wearhouse making a hostile cash tender offer of $57.50 per share for Jos. A. Bank.

Fremont, Calif. – The latest chapter in the continuing rivalry saga of The Men’s Wearhouse and Jos. A. Bank Clothiers, Inc. has opened with Men’s Wearhouse making a hostile cash tender offer of $57.50 per share for Jos. A. Bank. The offer, which expires on March 28, 2014, is worth about $1.6 billion.