Dive Summary:
- Following the termination of an unsolicited $2.3 billion buyout offer for Men’s Wearhouse, Jos. A. Bank isn’t ruling out a new takeover target.
- The company said that Men’s Wearhouse filed to engage in discussions regarding the proposal and the ongoing stalemate reached past the proposed deadline of Nov. 14.
- Meanwhile, the largest single shareholder for Men’s Wearhouse, Eminence Capital LLC, is seeking a meeting with shareholders after expressing concern over the failed proposal.
Dive Insight:
“Men’s Wearhouse was at the top of our list of strategic alternatives, now we have to look at the other things on our list,” said Jos. A. Bank chairman Robert Wildrick. Although the company is making no secret that it could be looking for another potential buyout opportunity, Jos. A. Bank has declined to name any specific targets.
