Ted Rosen was quoted in the Law360 article "Jos. A. Bank's Eddie Bauer Play Was Key to $1.8B Sale." While the full text can be found in the March 11, 2014, issue of Law360, a synopsis is noted below.
Jos. A. Bank Clothiers Inc. agreed to sell itself to rival Men's Wearhouse Inc. in a $1.8 billion deal, ending one of the year's most contentious M&A sagas. Though Jos. A. Bank had initially fashioned itself the buyer, deal watchers said it became the transaction's real winner by leveraging a separate deal for Eddie Bauer, owned by Golden Gate Capital, to drive up its own price by hundreds of millions of dollars.
The planned Eddie Bauer purchase became a pivotal piece of Men's Wearhouse's ongoing pursuit of Jos. A. Bank. By seeking an alternative to a hostile takeover by its biggest rival, Jos. A. Bank gave itself a distinct upper hand.
Golden Gate had positioned itself well, according to Rosen.
"If they do the deal, great. If they don't, there's a $48 million reverse termination fee. That's not too shabby either for putting your company on the market for a couple of weeks," he said. "They're certainly not going to be hurting at the end of the day."
Originally published by Law360.
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