Jos. A. Bank Urges Shareholders to Take no Action on Men's Wearhouse $57.50/Share Tender Offer or Director Nominees
HAMPSTEAD, Md., Jan. 6, 2014 (GLOBE NEWSWIRE) -- The Board of Directors of Jos. A. Bank Clothiers, Inc. (Nasdaq: JOSB) (the "Company") today confirmed that The Men's Wearhouse, Inc. (NYSE: MW) has commenced an unsolicited tender offer to acquire all outstanding common shares of the Company at a price of $57.50 per share.
The Board said that, consistent with its fiduciary duties, it will carefully review all aspects of the Men's Wearhouse offer in consultation with its financial and legal advisors and make a recommendation to shareholders, which will be outlined in a Statement on Schedule 14D-9 filed with the Securities and Exchange Commission on or before January 17, 2014.
The Company's stockholders are advised to take no action on the tender offer until the Company's Board of Directors has announced its recommendation to stockholders.