Jos. A. Bank confirms intent to acquire Men's Wearhouse

Jos. A. Bank further noted that this transaction would provide unique benefits to Men's Wearhouse's shareholders due to the significant overlap in the shareholder composition of the two companies.  In addition to receiving a full cash premium for their Men's Wearhouse shares, Men's Wearhouse shareholders who are also shareholders of Jos. A. Bank would have the opportunity to participate in the value creation resulting from the combination.

Since the current management team started in November 1999, Jos. A. Bank has an exceptional track record of generating long-term growth and shareholder value: its share price has grown at a compound annual growth rate of 30%, vs. a 1.6% annualized return of the S&P 500, and ahead of nearly all specialty retail peers. During the same period, Jos. A. Bank's market capitalization has appreciated over 4,300% compared to an approximately 25% increase for the S&P 500.

Goldman, Sachs & Co. and Financo, LLC are serving as financial advisors and Skadden, Arps, Slate, Meagher & Flom LLP and Guilfoil Petzall & Shoemake, L.L.C. are serving as legal advisors to Jos. A. Bank.

Jos. A. Bank's proposal is a preliminary, non-binding indication of interest to acquire the outstanding shares of Men's Wearhouse, and was submitted based on the understanding that it is not an offer that is capable of being accepted, and that there will be no binding agreement between Jos. A. Bank and Men's Wearhouse or any commitment or obligation on Jos. A. Bank or Men's Wearhouse with respect to Jos. A. Bank's proposal or a possible transaction unless and until a definitive agreement is executed by Jos. A. Bank and Men's Wearhouse.

Jos. A. Bank