In response to inquiries,
Jos. A. Bank Clothiers, Inc. JOSB today made the following statement
with respect to the actions Eminence Capital has taken regarding The Men's
Wearhouse, Inc. MW:
"This is a matter between the Men's Wearhouse Board and its shareholders. We
made a bona fide, friendly proposal to acquire Men's Wearhouse for $48 per
share in cash, or possibly more if the company could demonstrate greater value
through limited due diligence. The Men's Wearhouse board rejected our $48
proposal on October 9 and has refused to engage with us since. As a result, we
terminated our proposal earlier today in order to consider other strategic
alternatives which we have been investigating. We strongly believe that a
transaction would be in the best interest of both companies, our respective
shareholders, and the industry. Should the Men's Wearhouse Board change its
stance, we would immediately consider whether a new proposal to acquire Men's
Wearhouse is warranted."
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