Home / Knowledge / News / Apparel/Garments / Jos A Bank upset with diligence denial by Men's Wearhouse
Jos A Bank upset with diligence denial by Men's Wearhouse
05
Nov '13
Jos. A. Bank Clothiers, Inc. responded to the rejection by The Men's Wearhouse, Inc. of Jos. A. Bank's request for limited due diligence. On October 31, 2013, Jos. A. Bank stated that it was willing to consider raising the acquisition price it proposed to Men's Wearhouse on September 18, 2013, of $48 per share, or a 42% premium to the closing price of Men's Wearhouse common stock on the day prior, if Jos. A. Bank is given the opportunity to conduct limited due diligence in order to determine that such an increase would be justified. Men's Wearhouse denied Jos. A. Bank's request for a limited amount of non-public information.

"We are disappointed that the board of Men's Wearhouse has rejected our request for information and thereby chosen not to explore the potential of Jos. A. Bank's proposal for the benefit of their shareholders," said Robert N. Wildrick, Chairman of the Board of Jos. A. Bank.  "Their board's position is a matter for consideration by the shareholders of Men's Wearhouse. For our part, we stand by our previous statement and will keep our proposal open until November 14, 2013."

About Jos. A. Bank

Jos. A. Bank Clothiers, Inc., established in 1905, is one of the nation's leading designers, manufacturers and retailers of men's classically-styled tailored and casual clothing, sportswear, footwear and accessories. The Company sells its full product line through 628 stores in 44 states and the District of Columbia, a nationwide catalog and an e-commerce website that can be accessed at its website.

Jos. A. Bank

Must ReadView All

Textiles | On 24th Jan 2017

Textile industry demands relaxation of laws from Budget

The upcoming Union Budget 2017-18 should focus on relaxing certain...

President Donald Trump; Courtesy: White House

Textiles | On 24th Jan 2017

US sets ball rolling for withdrawal from TPP

President Donald Trump has set the ball rolling for withdrawal of the ...

Textiles | On 24th Jan 2017

Indian cotton consumption estimated at 290 lakh bales: CAI

The domestic consumption of cotton during the crop season 2016-17...

Interviews View All

Manfred Mentges
Sedo Treepoint GmbH

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

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Mike Hoffman
Gildan Activewear SRL

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

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search