Men's Wearhouse Inc. again extended its tender offer for rival
Jos. A. Bank Clothiers Inc., this time by 10 business days, as the
men's clothing retailer presses ahead with its planned $1.8 billion
takeover deal.
The tender offer is now set to expire April 9 at 5 p.m. New York
time. As with the of the previous deadline on Wednesday at 5 p.m.,
about 19.3 million Jos. A. Bank shares were tendered to the offer,
compared with 60,508 as of March 10. The company recently had about
28 million shares outstanding.
Men's Wearhouse last week agreed to pay $65 a share for Jos. A.
Bank. The deal ended a six-month-long battle between the two
sellers of men's suits.
Under the agreement, if conditions to the tender offer aren't
satisfied or waived as of any scheduled expiration deadline, Men's
Wearhouse can extend the expiration date of the tender offer for
successive periods of time up to 10 business days.
The deal, which requires regulatory approvals, will create a
company with more than 1,700 stores in the U.S., about 23,000
employees and annual sales of some $3.5 billion.
Write to Tess Stynes at tess.stynes@wsj.com
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