New York -- Eminence Capital LLC, which owns 4.9% of the common stock of Jos. A. Bank Clothiers, Inc. has issued a statement in support of the new offer by The Men's Wearhouse for the company. The statement, attributed to Eminence CEO Ricky C. Sandler, says that combining the two companies the best outcome for all shareholders.
"We have maintained all along that the combination of these two great companies is the best outcome for all shareholders,” said the statement. “We believe this offer clearly represents a superior alternative for Jos. A. Bank shareholders compared to remaining independent and acquiring Eddie Bauer. If the Board of Jos. A. Bank properly fulfills its fiduciary duty, we expect it will come to the conclusion that it should accept this offer to merge with Men's Wearhouse and move ahead with the limited confirmatory due diligence requested by Men's Wearhouse to solidify $65 per share offer price."