JoS. A Bank Launches Tender Offer as Part of Eddie Bauer Deal

JoS. A. Bank Clothiers Inc. commenced a tender offer to purchase up to $300.0 million of its common stock for use in its proposed acquisition of Eddie Bauer from Golden Gate Capital.

The company is offering $65.00 per share, up more than $10 from its closing price of $54.20 per share at at the close of markets Tuesday. One of Jos. A Bank's significant shareholders vowed Tuesday to fight the company's proposed acquisition of Eddie Bauer, arguing the buyback would eliminate $40 million in shareholder equity.

The tender offer will expire at midnight, New York City time, 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 Tenders of shares must be made on or prior to the expiration of the tender offer and may be withdrawn at any time on or prior to the expiration of the tender offer.

Goldman, Sachs & Co. will serve as dealer manager for the tender offer. The tender offer is subject to the consummation of Jos. A Bank's proposed acquisition of Everest Holdings LLC, the parent company of Eddie Bauer.

By press release

Related previous topics:

Jos. A Bank Agrees to Pay 9.5 Times EBITDA for Eddie Bauer  15.02.2014.

Dissident Shareholder Vows to Fight Jos A Bank Acquisition of Eddie Bauer  19.02.2014.


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