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BUSINESS
By Lorraine Mirabella, The Baltimore Sun | February 18, 2014
Eminence Capital LLC, a shareholder that's suing Jos. A. Bank Clothiers Inc. for rejecting a $1.6 billion takeover bid from rival Men's Wearhouse, accused the Hampstead-based men's retailer Tuesday of resorting to "desperate tactics" to protect management jobs by planning to buy outdoor clothing retailer Eddie Bauer. In a letter to Bank's board, Eminence, a New York hedge fund that owns a 10 percent stake in Men's Wearhouse and about 5 percent of Bank's stock, called the $825 million cash-and-stock Bauer deal "a poor strategic decision for Jos. A. Bank at a price that is in our view excessive and almost surely destroys shareholder value.
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NEWS
Dan Rodricks | March 1, 2014
If you own shares in Jos. A. Bank or run a small business in the Carroll County town of Hampstead, where the menswear company is headquartered, your reasons for caring about the outcome of the current hostilities between Joe Bank and the Men's Wearhouse are obviously financial. Not so much for the rest of us. For the rest of us, the interest lay in the bidding, with Joe Bank, the Men's Wearhouse and Eddie Bauer all caught up in a five-month, corporate-takeover drama. Someone could have produced a reality TV show about all this by now: Bank's attempt to buy Men's, Men's attempt to buy Bank, Bank buying Bauer, and Men's getting ticked off about the whole thing.
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BUSINESS
November 24, 1998
Clothing retailer Eddie Bauer has settled a racial discrimination lawsuit with three black teen-agers held by a VTC guard who thought they were shoplifting, a spokeswoman said.The company was appealing a jury decision siding with the teen-agers when the settlement was reached last week, Bauer said yesterday. Terms were not disclosed.A security guard at the company's Fort Washington warehouse store falsely accused Alonzo Jackson, Rasheed Plummer and Marco Cunningham of shoplifting and held them Oct. 25, 1995.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | February 24, 2014
Men's Wearhouse sweetened its hostile bid for Hampstead-based Jos. A. Bank Clothiers Inc. on Monday, raising its price more than 10 percent in a deal that hinges on Bank dropping its plans to buy Eddie Bauer. Houston-based Men's Wearhouse boosted its cash offer to shareholders to $63.50 per share from $57.50 per share and moved up the expiration date to March 12. The chain said it would be willing to bid even more — to $65 per share — if Bank allows it to examine the company's financial information.
NEWS
By Mary Carole McCauley, The Baltimore Sun | February 1, 2014
Men's clothing retailer Jos. A. Bank Clothiers Inc. is in talks to acquire the Eddie Bauer chain of stores specializing in outerwear and casual attire, the Wall Street Journal reported Saturday. Such a deal would disrupt the long saga of dueling takeover bids between Bank and rival discount suit clothier Men's Wearhouse Inc. The Wall Street Journal, in reporting the talks, cited people familiar with the matter. Thomas Davies, a spokesman for Hampstead-based Bank declined to comment Saturday.
BUSINESS
By Natalie Sherman and Lorraine Mirabella, The Baltimore Sun | February 14, 2014
Jos. A. Bank Clothiers said Friday it plans to buy outdoor retailer Eddie Bauer, a move the company said sets a path for long-term growth and analysts said increases Bank's options as it faces a hostile takeover bid by rival Men's Wearhouse. The $825 million cash-and-stock deal would give Hampstead-based Bank a once-proud brand that, under a series of owners and through two bankruptcies, has struggled to evolve from an outfitter to a lifestyle apparel retailer. While Bank seems intent on buying Bauer and remaining independent, some analysts wondered if the proposed deal isn't more about leveraging a larger offer out of Men's Wearhouse.
NEWS
October 13, 1997
ONLY THE SECURITY guard involved really knows if racism motivated him to order a young black man suspected of shoplifting to take off his Eddie Bauer shirt. A Prince George's County jury was convinced the guard wrongly sent the teen-ager home without clothing he had actually purchased. The jury was convinced the Eddie Bauer company bore responsibility for the guard's actions. But the jurors were unsure what went through the guard's mind.Testimony indicated the security guard, off-duty Prince George's police officer Robert Sheehan, suspected Alonzo Jackson of shoplifting because the Eddie Bauer shirt he was wearing looked new. It was new. Mr. Jackson had purchased it the day before.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | February 19, 2014
Jos. A. Bank Clothiers Inc. said Wednesday it has started buying back up to $300 million worth of its shares at $65 each, a step toward its planned acquisition of retail chain Eddie Bauer. The Hampstead-based men's apparel retailer said the offer will expire at midnight March 18, unless the company extends the deadline. The stock buyback is subject to closing the Bauer acquisition and designed to mollify shareholders pushing for a $1.6 billion hostile bid for Bank by rival chain Men's Wearhouse.
BUSINESS
By Bloomberg News | November 14, 2006
NEW YORK -- Outdoor-clothing retailer Eddie Bauer Holdings Inc. agreed yesterday to be acquired by two buyout firms for $286 million, or about one-third of its share price when it exited bankruptcy last year. Sun Capital Partners Inc. and Golden Gate Capital will pay $9.25 a share in cash for the 380-store chain and will assume $328 million in debt, the companies said. Eddie Bauer emerged from Spiegel Inc.'s bankruptcy reorganization as a stand-alone public company in June 2005. Eddie Bauer, founded in 1920, said the sale would provide resources to turn itself around.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | February 24, 2014
Men's Wearhouse sweetened its hostile bid for Hampstead-based Jos. A. Bank Clothiers Inc. on Monday, raising its price more than 10 percent in a deal that hinges on Bank dropping its plans to buy Eddie Bauer. Houston-based Men's Wearhouse boosted its cash offer to shareholders to $63.50 per share from $57.50 per share and moved up the expiration date to March 12. The chain said it would be willing to bid even more — to $65 per share — if Bank allows it to examine the company's financial information.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | February 19, 2014
Jos. A. Bank Clothiers Inc. said Wednesday it has started buying back up to $300 million worth of its shares at $65 each, a step toward its planned acquisition of retail chain Eddie Bauer. The Hampstead-based men's apparel retailer said the offer will expire at midnight March 18, unless the company extends the deadline. The stock buyback is subject to closing the Bauer acquisition and designed to mollify shareholders pushing for a $1.6 billion hostile bid for Bank by rival chain Men's Wearhouse.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | February 18, 2014
Eminence Capital LLC, a shareholder that's suing Jos. A. Bank Clothiers Inc. for rejecting a $1.6 billion takeover bid from rival Men's Wearhouse, accused the Hampstead-based men's retailer Tuesday of resorting to "desperate tactics" to protect management jobs by planning to buy outdoor clothing retailer Eddie Bauer. In a letter to Bank's board, Eminence, a New York hedge fund that owns a 10 percent stake in Men's Wearhouse and about 5 percent of Bank's stock, called the $825 million cash-and-stock Bauer deal "a poor strategic decision for Jos. A. Bank at a price that is in our view excessive and almost surely destroys shareholder value.
BUSINESS
By Natalie Sherman and Lorraine Mirabella, The Baltimore Sun | February 14, 2014
Jos. A. Bank Clothiers said Friday it plans to buy outdoor retailer Eddie Bauer, a move the company said sets a path for long-term growth and analysts said increases Bank's options as it faces a hostile takeover bid by rival Men's Wearhouse. The $825 million cash-and-stock deal would give Hampstead-based Bank a once-proud brand that, under a series of owners and through two bankruptcies, has struggled to evolve from an outfitter to a lifestyle apparel retailer. While Bank seems intent on buying Bauer and remaining independent, some analysts wondered if the proposed deal isn't more about leveraging a larger offer out of Men's Wearhouse.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | February 2, 2014
A marriage of suit-seller Jos. A. Bank Clothiers Inc. and the smaller Eddie Bauer casual clothing and outerwear chain could give a boost to both retailers, offering complementary merchandise and customers for each and room to grow online and into new categories, experts said a day after reports of a possible deal surfaced. Hampstead-based Jos. Bank had no comment Sunday on a report by the Wall Street Journal that it wants to acquire Eddie Bauer, a deal seen as a possible defensive move against a $1.6 billion hostile bid for Bank by Houston-based Men's Wearhouse.
NEWS
By Mary Carole McCauley, The Baltimore Sun | February 1, 2014
Men's clothing retailer Jos. A. Bank Clothiers Inc. is in talks to acquire the Eddie Bauer chain of stores specializing in outerwear and casual attire, the Wall Street Journal reported Saturday. Such a deal would disrupt the long saga of dueling takeover bids between Bank and rival discount suit clothier Men's Wearhouse Inc. The Wall Street Journal, in reporting the talks, cited people familiar with the matter. Thomas Davies, a spokesman for Hampstead-based Bank declined to comment Saturday.
BUSINESS
January 27, 2009
Coventry Health Care's CEO, Wolf, is resigning Coventry Health Care Inc., a provider of medical benefit plans based in Bethesda, said chief executive Dale Wolf will resign. He will be replaced, effective Friday, by Allen Wise, who held the chief executive job before becoming board chairman in 2004, the company said yesterday. Coventry lost 74 percent of its value in New York Stock Exchange trading in the past 12 months, compared with the 49 percent decline in the six-member Standard & Poor's 500 Managed Health Care Index.
BUSINESS
By KNIGHT RIDDER/TRIBUNE | November 23, 2000
The German family that controls the Spiegel Group chose a Hamburg executive yesterday to head the catalogue company, which had been led by committee for several years. Martin Zaepfel, a Spiegel board member since 1986 and director of marketing and advertising for Otto Versand, an affiliated German catalogue company, was named chief executive officer. Zaepfel will relocate to Downers Grove, Ill., where the company is based, Spiegel said. Zaepfel is replacing two long-time Spiegel executives, Michael Moran and James Sievers, who served as co-presidents since 1997 in an arrangement titled "office of the president."
BUSINESS
January 27, 2009
Coventry Health Care's CEO, Wolf, is resigning Coventry Health Care Inc., a provider of medical benefit plans based in Bethesda, said chief executive Dale Wolf will resign. He will be replaced, effective Friday, by Allen Wise, who held the chief executive job before becoming board chairman in 2004, the company said yesterday. Coventry lost 74 percent of its value in New York Stock Exchange trading in the past 12 months, compared with the 49 percent decline in the six-member Standard & Poor's 500 Managed Health Care Index.
BUSINESS
By Bloomberg News | November 14, 2006
NEW YORK -- Outdoor-clothing retailer Eddie Bauer Holdings Inc. agreed yesterday to be acquired by two buyout firms for $286 million, or about one-third of its share price when it exited bankruptcy last year. Sun Capital Partners Inc. and Golden Gate Capital will pay $9.25 a share in cash for the 380-store chain and will assume $328 million in debt, the companies said. Eddie Bauer emerged from Spiegel Inc.'s bankruptcy reorganization as a stand-alone public company in June 2005. Eddie Bauer, founded in 1920, said the sale would provide resources to turn itself around.
NEWS
By LEONARD PITTS JR | December 18, 2005
WASHINGTON -- Apparently, Brownie wasn't the only one. You remember the grief that fell on Michael Brown, former head of the Federal Emergency Management Agency last month after the release of some embarrassing e-mails. They revealed that as Hurricane Katrina was submerging New Orleans and shredding Biloxi, Mr. Brown and his aides were exchanging e-mails on trivial matters, including the question of which clothes would make him "look more hard-working" on television. The e-mails were released at the request of a Democratic congressman to embarrass Mr. Brown, whose agency is widely felt to have bungled the federal response to the storm.
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