Jos. A. Bank Clothiers Inc, a US apparel retailer, had received support for its USD2.3 billion bid for Men's Wearhouse Inc. The US apparel retailer had received support from the majority of the company's shareholders, said Jos. A. Bank Chairman Robert Wildrick in an interview last Wednesday.
Several top four shareholders at Jos. A. Bank that supported the bid included Fidelity, Royce & Associates and Wellington Management. The top shareholders at Jos. A. Bank were also among the top 30 shareholders in Men's Wearhouse. This was according to a data compiled by Thomson Reuters as of June 30.
According to Wildrick, "We have spoken to a majority of the cross-shareholders, and they are strongly in favor of the proposal. In fact, none of the shareholders we have spoken with are opposed to it."
Last week Jos. A. Bank had proposed a USD48 per share piece in an all cash offer for Men's Wearhouse.
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