Men's Wearhouse Inc said it would review a previously rejected merger with Jos. A. Bank Clothiers Inc and a return of capital to shareholders, major investor Eminence Capital LLC said on Tuesday.The New York-based hedge fund, which is Men's Wearhouse largest single shareholder with almost 10 percent of stock, urged the company to quickly engage with smaller rival Jos. A. Bank over a merger offer Men's Wearhouse turned down in October.Eminence CEO Ricky Sandler wrote in a letter to the retailer's chief executive officer, Doug Ewert, that he was encouraged by comments in a telephone call on Monday that the company would review all strategic options, including the merger and a "significant" return of capital to shareholders."We also fully expect you and the board, given the explicit commitment to explore all options, to actively engage with Jos. A. Bank before their deadline of November 14, 2013," Sandler said.
The Men?s Wearhouse, Inc. is a specialty retailer of men?s suits and a provider of tuxedo rental product in the United States and Canada. Shares of MW traded higher by 2.84% or $1.3056/share to $47.27. In the past year, the shares have traded as low as $27.42 and as high as $47.29. On average, 1205620 shares of MW exchange hands on a given day and today's volume is recorded at 1844886.
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