January 6, 2014
MW also nominates two independent directors for Jos. A. Bank’s board.
The Men's Wearhouse announced that it has commenced a cash tender offer to acquire all outstanding shares of Jos. A. Bank Clothiers, Inc. for $57.50 per share. The proposed combination would create the premier men's apparel retailer with enhanced scale and a broadened customer reach. The offer, which provides substantial value and immediate liquidity to Jos. A. Bank shareholders, is scheduled to expire on March 28, 2014, unless it is extended. MW also announced its intention to nominate two independent director candidates to Jos. A. Bank's Board of Directors at its 2014 Annual Meeting. The nominees are: John D. Bowlin, a recognized leader in the consumer packaged goods industry, who was previously President and Chief Executive Officer of Miller Brewing Company; and Arthur E. Reiner, who has more than 40 years of experience in the retail industry and has previously served in various leadership positions with the Macy's organization.Founded in 1973, Houston-based Men's Wearhouse is one of North America's largest specialty retailers of men's apparel with 1,137 stores. Based in Hampstead, MD, Jos. A. Bank has over 600 stores nationwide. The Willkie team includes Corporate partners Steven Seidman, Michael Schwartz and Laura Delanoy, Litigation partners Tariq Mundiya and Deirdre Hykal, and associates Howard Block, Laura Acker, Jonathan Kubek and Susannah Ostlund.