Earlier, Jos. A. Bank had withdrawn its USD 2.3 billion takeover bid after it failed to lure Men’s Wearhouse into merger talks.
Despite the failed talks, the shares of Men’s Wearhouse were up 33 per cent, hinting that the investors were still interested in the deal.
Pushing for the deal, Eminence Capital, one of the biggest shareholders with 9.8 per cent share in Men’s Wearhouse, released a presentation describing how shareholders can release value at the company and why Men’s Wearhouse’s Board of Directors should pursue the merger discussions with Jos. A. Bank Clothiers.
Eminence Capital said that Jos A. bank should offer “significant Premium” for Men’s Wearhouse as it is an appealing buy and called the proposed merger with Jos. A. Bank a “compelling opportunity” and added that the possibilities are "massive with the potential for USD 2 billion of value to be created."
The case being put forward by Eminence Capital carries weight and is the reason stock of Men’s Wearhouse, a “must-own” company in the retail industry, is holding up.
Fibre2fashion News Desk - India
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