By Ben Fox Rubin
Eminence Capital LLC nominated two candidates to Jos. A. Bank
Clothiers Inc.'s board, as the hedge fund continues to press for a
deal between the men's clothing retailer and rival Men's Wearhouse
Inc.
Eminence named Norman S. Matthews, former president of Federated
Department Stores, and Bruce J. Klatsky, former chairman of PVH
Corp., as potential Jos. A. Bank board members.
Men's Wearhouse and Jos. A. Bank have been trading takeover
offers, though a deal hasn't materialized. In one of the latest
efforts, Men's Wearhouse raised its bid for Jos. A. Bank to about
$1.6 billion and said it plans to nominate two candidates to Jos.
A. Bank's board. Jos. A. Bank last week called on shareholders to
reject the takeover offer, calling it "inadequate."
Earlier this month, Eminence said it would nominate two people
to the board, but on Tuesday reiterated that it would withdraw its
nominees and support Men's Wearhouse's slate if those candidates
are still in the running at the time of Jos. A. Bank's annual
meeting.
Eminence Capital has a nearly 10% stake in Men's Wearhouse and a
nearly 5% stake in Jos. A. Bank.
A Jos. A. Bank representative wasn't immediately available.
Jos. A. Bank shares closed Friday at $56.49, while Men's
Wearhouse shares closed at $50.45.
Write to Ben Fox Rubin at ben.rubin@wsj.com
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