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Jos A Bank lowers 'poison pill' trigger from 20% to 10%
Hampstead, Md. -- Preparing for a potential fight against Men’s Wearhouse’s unsolicited acquisition bid, Jos. A. Bank Clothiers is ramping up its "poison pill" defense.
Jos. A. Bank said Friday that it is lowering its ownership threshold to 10% from 20%, which is the same ownership threshold as Men's Wearhouse's shareholder rights plan.
Such a plan typically allows existing shareholders to acquire more stock at a discounted rate to ward off the investor collecting a big stake.
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Holiday shopping in December up from 2012
In-store holiday sales during December 2013 are expected to come out ahead of in-store holiday sales during the same month in the previous year. Retail analytics provider Euclid analyzed nearly 25 million domestic shopping sessions during December, revealing that shopper traffic and window conversion improved as heavy promotions kept holiday shoppers coming.