Men’s Wearhouse Says No Thanks To Jos. A. Bank
The suitor is pouncing at a moment of turmoil for Men’s Wearhouse, which cut its profit forecast last month and removed founder George Zimmer as executive chairman over strategy disagreements in June. A. Bank’s unsolicited proposal is opportunistic, subject to unacceptable risks and contingencies, and would deprive our shareholders of the value inherent in Men’s Wearhouse for inadequate consideration, Bill Sechrest, Men’s Wearhouse’s lead director, said in a statement. Solar leasing company SolarCity will buy Zep, which makes hardware for mounting photovoltaic cells. SolarCity, whose board chairman is Elon Musk of Tesla Motors, already uses Zep’s hardware in its installations.
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