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MW > SEC Filings for MW > Form 8-K on 11-Oct-2013All Recent SEC Filings

Show all filings for MENS WEARHOUSE INC

Form 8-K for MENS WEARHOUSE INC


11-Oct-2013

Entry into a Material Definitive Agreement, Material Modification to Rights of


Item 1.01. Entry Into a Material Definitive Agreement.

On October 9, 2013, the Board of Directors of The Men's Wearhouse, Inc. (the "Company") declared a dividend of one preferred share purchase right (a "Right") for each outstanding share of common stock, par value $0.01 per share (the "Common Shares"), of the Company. The dividend is payable on October 21, 2013 (the "Record Date") to shareholders of record as of the close of business on that date. Each Right entitles the registered holder to purchase from the Company one one-thousandth of a share of Series A Junior Participating Preferred Stock, par value $0.01 per share (the "Preferred Shares"), of the Company at a price of $160.00 per one-thousandth of a Preferred Share, subject to adjustment (the "Purchase Price"). The description and terms of the Rights are set forth in a Rights Agreement (the "Rights Agreement") dated as of October 10, 2013, between the Company and American Stock Transfer & Trust Company, LLC, as Rights Agent (the "Rights Agent").

Distribution Date; Exercisability

Initially, the Rights will be attached to all Common Share certificates and no separate Rights certificates will be issued. Separate certificates evidencing the Rights ("Right Certificates") will be mailed to holders of record of the Common Shares as of the close of business on the earlier to occur of (i) the tenth day following the public announcement or the Company's receipt of notice that a person or group of affiliated or associated persons has acquired beneficial ownership of 10% (15% in the case of a passive institutional investor) or more of the outstanding Common Shares (an "Acquiring Person"), or
(ii) the tenth business day (or such later day as the Board of Directors of the Company may determine prior to such time as any person becomes an Acquiring Person) following the commencement of, or announcement of an intention to make, a tender offer or exchange offer the consummation of which would result in the beneficial ownership by that person or group becoming an Acquiring Person (the earlier of such dates being the "Distribution Date").

The Rights Agreement provides that, until the Distribution Date (or earlier redemption or expiration of the Rights), (i) the Rights will be transferred with and only with the Common Shares, (ii) new Common Share certificates issued after the Record Date upon transfer or new issuance of Common Shares will contain a notation incorporating the Rights Agreement by reference and (iii) the surrender for transfer of any certificates for Common Shares outstanding as of the Record Date will also constitute the transfer of the Rights associated with the Common Shares represented by such certificate.

The Rights are not exercisable until the Distribution Date. Following the Distribution Date, holders of the Rights will be entitled to receive, upon exercise and the payment of $160.00 per Right, one one-thousandth of a Preferred Share. The Rights will expire on September 30, 2014, (the "Expiration Date"), unless the Rights are earlier redeemed or exchanged by the Company, in each case, as described below.

Flip-In

If a person or group becomes an Acquiring Person at any time after the date of the Rights Agreement (with certain limited exceptions), each holder of a Right (other than Rights


beneficially owned by the Acquiring Person, which will be null and void) will, after the Distribution Date, have the right to receive, upon exercise, a number of Common Shares having a then-current value equal to two times the exercise price of the Right.

In the event that the Company does not have a sufficient number of Common Shares available, or if the Board so elects, the Company may, among other things, substitute cash, assets or other securities for the Common Shares into which the Rights would have otherwise been exercisable.

Flip-Over

In the event that, following the Distribution Date, the Company is acquired in a merger or other business combination transaction or 50% or more of its consolidated assets or earning power are sold after a person or group has become an Acquiring Person, proper provision will be made so that each holder of a Right (other than Rights beneficially owned by the Acquiring Person, which will be null and void) which has not theretofore been exercised will thereafter have the right to receive, upon exercise, a number of shares of common stock of the acquiring company having a then-current value equal to two times the exercise price of the Right.

Exchange

At any time after any person or group becomes an Acquiring Person and until such time as any person, together with all of such person's affiliates and associates, becomes the beneficial owner of 50% or more of the then outstanding Common Shares, the Board of Directors of the Company may exchange the Rights (other than Rights owned by the Acquiring Person or its affiliates), in whole or in part, at an exchange ratio of one Common Share per Right (subject to adjustment).

Redemption

At any time prior to an Acquiring Person becoming such, the Board of Directors of the Company may redeem the Rights, in whole but not in part, at a price of $0.01 per Right (the "Redemption Price"). The redemption of the Rights may be made effective at such time, on such basis and with such conditions as the Board of Directors, in its sole discretion, may establish. Immediately upon any . . .



Item 3.03. Material Modification to Rights of Security Holders.

The information set forth in Items 1.01 and 5.03 of this Report is incorporated herein by reference.



Item 5.03. Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.

Rights Agreement

In connection with the adoption of the Rights Agreement, on October 10, 2013, the Company amended its Restated Articles of Incorporation by filing a Statement of Designations of Series A Junior Participating Preferred Stock with the Secretary of State of the State of Texas. The terms of the Series A Junior Participating Preferred Stock are described in Item 1.01 of this Report. A copy of the Statement of Designations of Series A Junior Participating Preferred Stock is attached as Exhibit 3.1 to this Current Report on Form 8-K and incorporated herein by reference.

Amended and Restated Bylaws

On October 9, 2013, the Board of Directors of the Company also approved an amendment and restatement of the Company's bylaws (the "Fifth Amended and Restated Bylaws"). Among other things, the Fifth Amended and Restated Bylaws
(a) require approval of two-thirds of the shares entitled to vote thereon for shareholder amendments to the bylaws and (b) require earlier advance notice of intended shareholder nominations of directors and require persons seeking to make nominations to provide more information about themselves and their nominees.

The Fifth Amended and Restated Bylaws are effective as of October 9, 2013. The foregoing description of the Fifth Amended and Restated Bylaws is not complete and is qualified in its entirety by reference to the text of the Fifth Amended and Restated Bylaws, which is attached as Exhibit 3.2 to this Current Report on Form 8-K and incorporated herein by reference.



Item 8.01. Other Events.

On October 9, 2013, the Company issued a press release announcing the adoption of the Rights Agreement and the Amended and Restated Bylaws. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference.




Item 9.01. Financial Statements and Exhibits.

Exhibit
Number                                 Description
3.1       Statement of Designations of Series A Junior Participating Preferred
          Stock.

3.2       Fifth Amended and Restated Bylaws of The Men's Wearhouse, Inc.

4.1       Rights Agreement, dated as of October 10, 2013, between The Men's
          Wearhouse, Inc. and American Stock Transfer & Trust Company, LLC, as
          Rights Agent.

99.1      Press Release of the Company, dated October 9, 2013.


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