The Men's Wearhouse Inc. has extended its tender offer for shares of Jos. A. Bank Clothiers Inc. in connection with its acquisition of its competitor.
The expiration of tender offer is now 5 p.m. Eastern Standard Time on April 9, from March 19.
Men's Wearhouse earlier this month said it would acquire its competitor for $65 a share, or about $1.8 billion.
The company said that, as of the close of business on Wednesday, 19.3 million shares of Jos. A. Bank stock had been tendered in and not withdrawn from the tender offer. That would represent 68.8 percent of the 28 million shares outstanding as of the end of Jos. A. Bank’s third quarter on Nov. 2.
As provided in the merger agreement between the parties, if certain conditions to the tender offer aren't satisfied or waived, the tender offer may be extended for successive periods of time at up to ten business days.
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