Men's Wearhouse stock up as retailer reviews strategic options
Shares in The Men's Wearhouse rose following a letter from Eminence Capital, saying the CEO of the menswear retailer told the fund that all strategic options will be reviewed—including a merger with Jos. A. Bank Clothiers
In the letter to Men's Wearhouse's CEO, the fund's CEO wrote, "We were encouraged by your comments, specifically your assurances that the Board of Directors of The Men'sWearhouse, Inc. (MW) takes its fiduciary duties seriously and that you instructed your financial advisors to review for the Board all strategic options available to the company, including a significant return of capital to shareholders and a merger with Jos. A. Bank Clothiers, Inc. (JOSB)."
(Read more: Eminence gets stakein Men's Wearhouse)
Eminence Capital owns 9.8 percent of Men's Wearhouse common stock, making it the single largest shareholder.