Home / Knowledge / News / Apparel/Garments / Men's Wearhouse adopts new shareholder rights plan
Men's Wearhouse adopts new shareholder rights plan
Oct '13
The Men's Wearhouse announced that its Board of Directors has adopted a limited duration shareholder rights plan (the "Rights Plan") and declared a dividend of one right on each share of the Company's common stock outstanding at 5:00 p.m., Eastern time, on October 21, 2013. 

The Rights Plan was adopted following the Company's rejection of the unsolicited proposal by Jos. A. Bank to acquire Men's Wearhouse for $48.00 per share as it significantly undervalues Men's Wearhouse, is inadequate and not in the best interests of the Company or its shareholders. The Rights Plan is not intended to prevent an acquisition of the Company on terms that the Board of Directors considers favorable and fair to, and in the best interests of, all shareholders, and will not do so.

In the absence of further action by the Board of Directors and subject to certain exceptions, the rights generally will become exercisable and allow holders to acquire the Company's common stock at a discounted price if a person or group acquires beneficial ownership of 10% percent or more of Men's Wearhouse common stock (15% in the case of a passive institutional investor) in a transaction not approved by the Board of Directors of the Company.  In that situation, rights held by persons or groups that exceed the applicable threshold will be void.  The Rights Plan expires on September 30, 2014 unless earlier redeemed, exchanged or terminated by the Company.

In addition, the Company announced that the Board of Directors has amended and restated the Company's bylaws and adopted a two-thirds voting standard for approval of shareholder amendments to the bylaws and revised the advance notice provision to require earlier advance notice of intended shareholder nominations of directors and to require persons seeking to make nominations to provide more information about themselves and their nominees.

BofA Merrill Lynch and J.P. Morgan Securities LLC are serving as financial advisors to Men's Wearhouse, and Willkie Farr & Gallagher LLP is serving as legal advisor.

Founded in 1973, Men's Wearhouse is one of North America's largest specialty retailers of men's apparel with 1,137 stores.  The Men's Wearhouse, Moores and K&G stores carry a full selection of suits, sport coats, furnishings and accessories in exclusive and non-exclusive merchandise brands and Men's Wearhouse and Tux stores carry a limited selection.  Most K&G stores carry a full selection of women's apparel. 

Tuxedo rentals are available in the Men's Wearhouse, Moores and Men'sWearhouse and Tux stores.  Additionally, Men's Wearhouse operates a global corporate apparel and workwear group consisting of Twin Hill in the United States and Dimensions, Alexandra and Yaffy in the United Kingdom.

Men's Wearhouse

Must ReadView All

Courtesy: Polartec

Textiles | On 28th Oct 2016

Polartec innovates most breathable waterproof fabric

Polartec, the premium provider of innovative textile solutions, has...

Marzoli FT6D roving frames in Sintex’s Unit 2. Coutresy: Marzoli

Textiles | On 28th Oct 2016

Marzoli roving frames erected at Sintex textile division

A total of 48 Marzoli roving frames were erected in units I, II and...

Textiles | On 27th Oct 2016

Teijin Frontier develops Solotex RC lightweight fibre

Teijin Frontier Co. Ltd, fibre products converting company and part...

Interviews View All

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Pranav Mishra

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


Advanced Search