Men's Wearhouse, Jos. A. Bank Ink Non-disclosure Agreement - Quick Facts

(RTTNews) - The Men's Wearhouse (MW) confirmed signing a non-disclosure agreement with Jos. A. Bank Clothiers (JOSB) on Saturday night, March 1, 2014, pursuant to which the companies would exchange certain confidential information and to work in good faith to assess a potential combination, and that Men's Wearhouse has received a draft merger agreement from Jos. A. Bank.

Men's Wearhouse said its existing cash tender offer for $63.50 would provide Jos. A. Bank shareholders with a substantial premium and immediate value, and that as announced before, Men's Wearhouse is prepared to raise its offer price to $65 per share, provided Jos. A. Bank can demonstrate or Men's Wearhouse can discover additional value through discussions or limited due diligence.

Men's Wearhouse's cash tender offer to buy Jos. A. Bank's outstanding shares for $63.50 per share is slated to expire at 5:00 p.m., New York City time on Wednesday, March 12, 2014, unless the offer is extended.

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.