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Mason Capital Management Initiates 6% Stake in Men’s Wearhouse (MW)

In a recent filing with the Securities and Exchange Commission, Mason Capital Management LLC, led by Kenneth Mario Garschina, has disclosed initiating a stake in Men’s Wearhouse Inc (NYSE:MW). The passive stake contains 3.0 million shares, which represent around 6.4% of the company’s shares outstanding.

The Men's Wearhouse, Inc. (NYSE:MW)

Men’s Wearhouse Inc (NYSE:MW) is a specialty retailer of men’s suits and a provider of tuxedos on a rental basis. It is primarily focused on the markets of the United States and Canada. It has a market cap of $2.6 billion and is head quartered in Texas.

The company is currently negotiating with Jos. A. Bank Clothiers Inc. (NASDAQ:JOSB), another men’s apparel retailer, who is planning to acquire it for a total of $1.8 billion, after previously offering $1.6 billion and $1.5 billion. Jos. A Bank rejected the offer, which it called inadequate, and said it would seek proposals from larger rivals with higher bids to offer.

Other stakeholders of Men’s Wearhouse Inc include Ricky Sandler’s Eminence Capital, which holds 4.7 million shares, followed by Tiger Consumer Management, led by Patrick Mccormack, who owns 2.1 million shares. Eminence is one of the activist funds that supports the acquisition of Jos. A Bank Clothiers, in which it also holds a roughly 5% stake.

Mason Capital Management LLC has an affinity towards the basic materials sector. The fund also has investments in other sectors like technology, industrial goods and healthcare. Mason Capital Management has around $8.0 billion in assets under management. It was founded by Kenneth Mario in 2000 and is headquartered in New York. The total portfolio value of Mason Capital is $5.5 billion.

In January, the fund boosted its stake in Hubbell Incorporated (NYSE:HUB.A) to around 630,500 shares from 493,900 shares held earlier. Mason Capital now holds 8.8% of the company’s class A shares.

Some of the largest investments of the fund as at the end of the fourth quarter of 2013 involve Energy Transfer Equity LP. (NYSE:ETE), in which Mason Capital owns approximately 6.9 million shares worth $565.9 million. The fund also holds 13.8 million shares of Vodafone Group Plc (ADR) (NASDAQ:VOD), with a reported value of $543.8 million. The third largest stake of Mason Capital is YPF Sociedad Anonima (ADR) (NYSE:YPF), of which it owns 16.1 million shares worth $530.8 million.


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