Ricky Sandler’s Eminence Capital, which recently revealed a 9.8% activist position in The Men’s Wearhouse, Inc. (NYSE:MW), disclosed, in a newly amended filing, a press release, in which the fund officially expressed its disappointment that The Men’s Wearhouse did not start negotiation with Jos. A. Bank Clothiers Inc (NASDAQ:JOSB) regarding the merger of the two companies.
“Eminence Capital believes that by allowing yesterday’s deadline to expire, the Board has confirmed that it is not committed to exercising its basic fiduciary duties to shareholders and is satisfied with the status quo,” the fund said.
In light of these events, Eminence also announced that it has filed a solicitation with the SEC, requesting a special meeting of shareholders “to vote on a number of bylaw amendments that, if approved, will permit shareholders to remove directors without cause before the next annual meeting of shareholders.”
The full text of the press release can be accessed below: