Jos. A. Bank issues tender offer for $300 million in stock

Hampstead, Md. - JoS. A. Bank Clothiers, Inc. has commenced a tender offer to purchase up to $300 million in value of shares of its common stock at a price of $65 per share. The closing price of the company's common stock on Feb. 18, 2014 was $54.20 per share.

The tender offer will expire on Tuesday, March 18, 2014, unless extended by the company. Tenders of shares must be made on or prior to the expiration of the tender offer and may be withdrawn at any time on or prior to the expiration of the tender offer. The tender offer is subject to a number of terms and conditions described in the offer to purchase that is being distributed to stockholders, including the consummation of the previously announced acquisition of Everest Holdings LLC ("Everest"), the parent company of Eddie Bauer.

Jos. A. Bank expects to fund the tender offer with cash on hand. None of the company's directors or executive officers or Everest Topco LLC, the owner of Everest and a portfolio company of Golden Gate Capital, will participate in the tender offer.

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