Acquisition of Jos. A. Bank Clothiers, Inc. by The Men's Wearhouse, Inc. May Not Be in Shareholders' Best Interests

 Acquisition of Jos. A. Bank Clothiers, Inc. by The Men's Wearhouse, Inc. May
                    Not Be in Shareholders' Best Interests

PR Newswire

SAN DIEGO and HAMPSTEAD, Md., Jan. 17, 2014

SAN DIEGO and HAMPSTEAD, Md., Jan. 17, 2014 /PRNewswire/ -- Shareholder rights
attorneys at Robbins Arroyo LLP are investigating the recommendation of the
Jos. A. Bank Clothiers, Inc. (NASDAQ: JOSB) board of directors that
shareholders take no action on the tender offer commenced by The Men's
Wearhouse, Inc. (NYSE: MW). On January 6, 2014, The Men's Wearhouse announced
that it had commenced a cash tender offer to acquire all outstanding shares of
Jos. A. Bank for $57.50 per share in cash.

(Logo: http://photos.prnewswire.com/prnh/20130103/MM36754LOGO)

Is the Tender Offer Best for Jos. A. Bank and Its Shareholders?

Robbins Arroyo LLP's investigation focuses on whether the board of directors
at Jos. A. Bank is undertaking a fair process to impartially review the tender
offer in the best interests of its shareholders. Specifically, the
investigation concerns whether Jos. A. Bank's announcement on January 3, 2014,
that it reduced the ownership threshold of its shareholder rights plan from
20% to 10% was designed to protect the interests of an entrenched board of
directors.

The Men's Wearhouse's $57.50 tender offer is 4.5%, or $2.50 per share, higher
than its previous offer of $55.00 made on November 26, 2013, which the Jos. A.
Bank board rejected and refused to negotiate. Further, the offer represents a
premium of 38.02% based on Jos. A. Bank's closing price of $41.66 on October
8, 2013, the day before Jos. A. Bank submitted a $48.00 per share bid to
acquire The Men's Wearhouse. Further, prior to Men's Wearhouse's initial
offer of $55.00 per share on November 26, 2013, Jos. A. Bank had not traded
above the current offer price of $57.50 in the previous three years. In the
last three years, Jos. A. Bank has traded as low as $37.31 as recently as on
January 28, 2013, closing at $39.28 on the same day.

Jos. A. Bank shareholders have the option to file a class action lawsuit to
ensure the board of directors properly evaluates the proposal to obtain the
best possible price for shareholders and the disclosure of material
information. Jos. A. Bank shareholders interested in information about their
rights and potential remedies can contact attorney Darnell R. Donahue at (800)
350-6003, ddonahue@robbinsarroyo.com, or via the shareholder information form
on the firm's website.

Robbins Arroyo LLP is a nationally recognized leader in securities litigation
and shareholder rights law. The law firm represents individual and
institutional investors in shareholder derivative and securities class action
lawsuits, and has helped its clients realize more than $1 billion of value for
themselves and the companies in which they have invested. 

Attorney Advertising.Past results do not guarantee a similar outcome.

Contact:
Darnell R. Donahue
Robbins Arroyo LLP
ddonahue@robbinsarroyo.com
(619) 525-3990 or Toll Free (800) 350-6003
www.robbinsarroyo.com

SOURCE Robbins Arroyo LLP

Website: http://www.robbinsarroyo.com
 
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