Fremont, Calif. -- The Men's Wearhouse has extended the expiration date of its tender offer for all outstanding common shares of Jos. A. Bank, in accordance with terms of the March 11 merger agreement. The offer and withdrawal rights are now scheduled to expire on April 9, 2014, unless further extended.
As of March 19, 2014, about 19.2 million shares of Jos. A. Bank common stock (including 2.1 million shares Jos. A. Bank common stock subject to notice of guaranteed delivery) had been tendered in and not withdrawn from the tender offer. On March 20, 2014, in accordance with the terms and conditions of the merger agreement, Men's Wearhouse amended its pending tender offer to reflect the terms of the merger agreement, including reflecting the increase in the offer price of $65 and other changes contemplated by the merger agreement.
As provided in the merger agreement, if on any scheduled expiration date, any of the conditions to the tender offer are not satisfied or waived, then Men’s Wearhouse may extend the tender offer for successive periods of time up to 10 business days. BofA Merrill Lynch and J.P. Morgan Securities LLC are serving as financial advisors to Men's Wearhouse, and Willkie Farr & Gallagher LLP is serving as legal advisor.