Men's Wearhouse Extends Tender Offer For Jos. A. Bank Until April 23

(RTTNews) - Clothing retailer Men's Wearhouse (MW) announced Thursday that it has extended its all-cash tender offer for $65.00 per share for all of the currently outstanding shares of common stock of Jos. A. Bank Clothiers Inc. (JOSB) to 5:00 p.m. New York City time on April 23, 2014, unless further extended.

The tender offer was previously set to expire at 5:00 p.m. New York City time on April 9, 2014.

As of 5:00 p.m. New York City time on April 9, 2014, about 20.60 million shares of Jos. A. Bank common stock have been validly tendered in, and not withdrawn from the tender offer. The tendered share included about 1.99 million shares of Jos. A. Bank common stock subject to notice of guaranteed delivery.

On March 11, Men's Wearhouse agreed to acquire smaller rival Jos. A. Bank Clothiers for $1.8 billion, ending a protracted takeover tussle. The combined company will have more than 1,700 stores in the U.S., with around 23,000 employees and adjusted sales of $3.5 billion.Men's Wearhouse agreed to pay Jos. A. Bank shareholders $65.00 a share in cash.

The merger came five months after Jos. A. Bank offered to buy Men's Wearhouse for $2.3 billion. However, Men's Wearhouse spurned the bid and launched counter bids to buy Jos. A. Bank for $1.2 billion, which was then sweetened to about $1.6 billion. In Febraury, Men's Wearhouse raised its offer to about $1.78 billion.