Men's Wearhouse Reveals Waiver Of Marketing Period Condition

(RTTNews) - Men's Wearhouse, Inc. (MW) said Wednesday that its subsidiary, Java Corp., has waived the "Marketing Period Condition" described in the Offer to purchase, as amended, in connection with the previously announced all-cash tender offer for $65.00 per share for all of the currently outstanding shares of Jos. A. Bank Clothiers, Inc. (JOSB).

All other terms and conditions of the tender offer remain unchanged.

Men's Wearhouse also said that it has moved up the expiration date of the tender offer to 12:00 midnight, New York City time on Tuesday, June 17. The tender offer was previously set to expire at 5:00 p.m. New York City time on June 19.

Separately, Men's Wearhouse said that it has agreed to sell $600 million aggregate principal amount of its 7.00% Senior Notes due 2022 in a private offering.

The company plans to use the net proceeds from the offering of senior notes to pay a portion of the about $1.8 billion purchase price for the proposed acquisition of Jos. A. Bank Clothiers.