Home / Knowledge / News / Apparel/Garments / Jos A Bank questions claims of Men's Wearhouse
Jos A Bank questions claims of Men's Wearhouse
03
Feb '14
Jos. A. Bank Clothiers, Inc. sent a letter to Douglas S. Ewert, President and Chief Executive Officer of The Men's Wearhouse, Inc., in response to Mr. Ewert's letter dated January 30, 2014. 
 
It says, “We, the directors of Jos. A. Bank Clothiers, Inc., are writing in response to your January 30, 2014 letter. After carefully reviewing your offer with our financial and legal advisors, we continue to believe that your offer to acquire Jos. A. Bank substantially undervalues our Company and that your proposal is not in the best interests of our stockholders. 
 
“Accordingly, we see no benefit in commencing negotiations with Men's Wearhouse. Your recent letter makes a number of inaccurate and misleading claims. These statements call into question the credibility of Men's Wearhouse's actions in pursuing its offer for Jos. A. Bank: 
 
“In opposing our proposal in the fall to acquire Men's Wearhouse, you said very clearly that a combination "raises significant antitrust concerns." Since making your offer on November 26, 2013 for Jos. A. Bank, you have not updated your views regarding the antitrust risk. Should our stockholders assume that when Men's Wearhouse made its offer it still believed a combination raised "significant antitrust concerns"?
 
“If not, Men's Wearhouse has yet to explain why the antitrust concerns it raised just seven weeks before its offer for Jos. A. Bank do not apply to its offer for Jos. A. Bank. Your silence has been misleading to both Jos. A. Bank and Men's Wearhouse stockholders. We believe you have a duty to inform investors whether, based on your knowledge, your offer can be approved by the Federal Trade Commission.
 
“After the FTC issued a second request in connection with its antitrust review of your offer, you said for the first time, that you had "expected" to receive a second request. As you know, it is a very serious step for the FTC to issue a second request. Our two companies' stockholders should understand that second requests are issued in less than 2% of all transactions filed with the government and a high percentage of those transactions are never completed. 
 
Click here to view more.

JoS. A. Bank Clothiers


Interviews View All

Abhishek Samdaria, Reflete

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Mohammad Mamun Ar Rashid, UL VS Bangladesh Ltd

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Top executives, Textile industry

Top executives
Textile industry

Overall, Union budget 2018-19 is very balanced

Ravi Raj Desai,

Ravi Raj Desai

Himalaya Cotton Yarn Ltd manufactures high quality denier. The spinning...

Sarah Perkins,

Sarah Perkins

Fairfax, Virginia-based Specialty Graphic Imaging Association (SGIA) is a...

Mirella Sardini,

Mirella Sardini

A leading manufacturer of automated machinery and equipment for the...

Melissa Tate, University of New South Wales

Melissa Tate
University of New South Wales

<div><div><div><div><b>Melissa Tate</b>, a well-known scientist currently...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, a global association of the nonwoven fabrics industry, has been...

Johann-Philipp Dilo, Dilo Group

Johann-Philipp Dilo
Dilo Group

German company Dilo Group is one of the leading equipment suppliers of...

Hemant & Nandita, Hemant & Nandita

Hemant & Nandita
Hemant & Nandita

The designer duo of Hemant &amp; Nandita are known for being inspired by...

Vaanee Bhatia, Gritstones Clothing

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Joe Ikareth, Joe Ikareth

Joe Ikareth
Joe Ikareth

<b>Joe Ikareth</b> has a rock-solid fashion and textiles background, which ...

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

Leave your Comments


November 2019

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

Follow us on instagram

Follow

Follow Fibre2Fashion On


Advanced Search