Men's Wearhouse Inc Jos. A Bank confirms proposal to buy company at $48/shr or $2.3B in cash (approx 36% premium to prior close) - Confirmed that it has made a non-binding proposal to acquire all of the outstanding shares of Men's Wearhouse for $48 per share in cash, representing a total equity value of approximately $2.3 billion, in a negotiated transaction. The proposal represents an approximate 42% premium to the closing price of Men's Wearhouse common stock on September 17, 2013, the day before Jos. A. Bank made the proposal to Men's Wearhouse in a telephone call and follow-up letter, which is below, from Robert N. Wildrick, Chairman of the Board of Jos. A. Bank, to Douglas S. Ewert, Chief Executive Officer of Men's Wearhouse. Men's Wearhouse has advised Jos. A. Bank that it is reviewing the proposal. - The transaction is expected to be funded by a combination of cash on Jos. A. Bank's balance sheet, new equity capital and debt financing. The new equity will be provided by Golden Gate Capital, a leading private equity firm. Goldman, Sachs & Co. has informed Jos. A. Bank that, subject to customary terms and conditions, it is highly confident that the debt financing can be obtained in the capital markets.