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BUSINESS
December 23, 2013 | By Ricardo Lopez
Jos. A. Bank announced Monday it has rejected a late November takeover bid from rival Men's Wearhouse, saying the offer undervalued the company. "Our board undertook a thorough review and determined that the per share consideration in the proposal made to us by  Men's Wearhouse  was simply not in the best interest of our shareholders," said Robert N. Wildrick, Jos. A. Bank's chairman. The two retailers have in the past months been playing a game of cat-and-mouse as each company has tried to acquire the other.
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BUSINESS
February 28, 2014 | By Ricardo Lopez
Jos. A. Bank Clothiers Inc. rejected Men's Wearhouse latest acquisition offer late Thursday, calling it "inadequate" but agreed to meet with its rival to discuss a possible merger, heightening a months-long takeover battle between the retailers.  Since September, the two menswear companies have been engaged in an elaborate cat-and-mouse game. Jos. A. Bank Clothiers Inc. initially offered to buy Men's Wearhouse but was rebuffed. Men's Wearhouse turned the tables and offered to buy Jos. A. Bank, kicking off more expensive acquisition offers and a series of maneuvers (a lawsuit and a proposed deal by Jos. A. Bank to buy Eddie Bauer, another retail firm)
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BUSINESS
October 9, 2013 | By Tiffany Hsu
Men's Wearhouse Inc. has a suitor who wants to pay $2.3 billion to take over the retailer, but the menswear company is having none of it. Saying that the bid from Jos. A. Bank Clothiers Inc. “significantly undervalues” the chain, Men's Wearhouse rejected the nonbinding proposal Wednesday. Hampstead, Md,-based Jos. A. Bank said in a statement that it had made its offer on Sept, 18, several months after Men's Wearhouse removed its founder and longtime spokesman, George Zimmer, as executive chairman.
BUSINESS
February 14, 2014 | By Ricardo Lopez
Jos. A. Bank Clothiers Inc., the repeated target of an acquisition by Men's Wearhouse, said Friday it will buy retailer Eddie Bauer in a deal worth $825 million in cash and stock.  Jos. A. Bank, the Hampstead, Md.-company, said it will pay $564 million in cash and about 4.7 million new shares at $56 a share to Eddie Bauer's owner, Golden Gate Capital, a private-equity firm, which will own nearly 17% of Jos. A. Bank shares. The company said it has been looking for companies to acquire in recent years, and said Eddie Bauer was one of its first choices.  "The acquisition of Eddie Bauer solidifies Jos. A. Bank's leadership in men's apparel and adds new categories such as women's apparel and footwear, to create a powerful, diversified, multi-branded retail platform," Jos. A. Bank said in a statement.
BUSINESS
February 14, 2014 | Bloomberg News
HAMPSTEAD, Md. - Jos. A. Bank Clothiers Inc. is buying the parent company of Eddie Bauer in a cash-and-stock deal valued at $825 million that will help strengthen its men's wear business and diversify its offerings. The deal comes as Jos. A. Bank is being pursued by rival Men's Wearhouse Inc. Shares of Jos. A. Bank fell more than 3 percent in Friday premarket trading as investors may believe the Eddie Bauer deal makes a transaction with Men's Wearhouse less likely. Men's Wearhouse shares fell almost 9 percent ahead of the market opening.
BUSINESS
January 6, 2014 | By Tiffany Hsu
Men's Wearhouse Inc. is upping its bid to buy competitor Jos. A. Bank Clothiers, offering to pay some $1.6 billion for the men's apparel retailer. The two companies have been trading acquisition attempts, sparked by Jos. A. Bank's unsolicited move on Oct. 9 to purchase the much larger Men's Wearhouse for $48 a share, or roughly $2.3 billion. On Monday, Men's Wearhouse said it commenced a cash tender offer of $57.50 a share - a 38% premium over Jos. A. Bank's close on Oct. 8. Compared with Jos. A. Bank's Friday close of $54.41 a share, it's a 5.7% premium.
BUSINESS
April 8, 2012
The manager: Craig Hodges The fund: Hodges Small Cap Fund (HDPSX) Headquarters: Dallas Assets: $145 million Top five stock holdings: Kirby Corp., Kansas City Southern Inc., Alamo Group Inc., Sally Beauty Holdings Inc., Jos. A. Bank Clothiers Inc. Morningstar rating: Five stars Performance: Gained 15.1% in the first quarter and 8.9% for the last year. Annualized three-year return of 42%.
BUSINESS
January 6, 2014 | By Tiffany Hsu
Men's Wearhouse Inc. is upping its bid to buy competitor Jos. A. Bank Clothiers, offering to pay some $1.6 billion for the men's apparel retailer. The two companies have been trading acquisition attempts, sparked by Jos. A. Bank's unsolicited move on Oct. 9 to purchase the much larger Men's Wearhouse for $48 a share, or roughly $2.3 billion. On Monday, Men's Wearhouse said it commenced a cash tender offer of $57.50 a share - a 38% premium over Jos. A. Bank's close on Oct. 8. Compared with Jos. A. Bank's Friday close of $54.41 a share, it's a 5.7% premium.
BUSINESS
October 9, 2013 | By Tiffany Hsu
Men's Wearhouse Inc. has a suitor who wants to pay $2.3 billion to take over the retailer, but the menswear company is having none of it. Saying that the bid from Jos. A. Bank Clothiers Inc. “significantly undervalues” the chain, Men's Wearhouse rejected the nonbinding proposal Wednesday. Hampstead, Md,-based Jos. A. Bank said in a statement that it had made its offer on Sept, 18, several months after Men's Wearhouse removed its founder and longtime spokesman, George Zimmer, as executive chairman.
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