U.S. haberdasher to buy Moores The Suit People

Article Abstract:

Men's Wearhouse Inc., a US-based haberdasher, will acquire the Canadian retail chain of Moores the Suit People from Moores Retail Group Inc. of Montreal, Quebec, for about $72 million in stocks. Men's Wearhouse, which announced the signing of a letter of intent on Aug. 4, 1998, will issue 2.4 million of its shares to Moores Retail and assume C$87 million of its outstanding debt in exchange for the 104-store retail chain. The deal comes after Moores' planned initial public offering (IPO) that did not materialize due to the unstable condition of the stock markets.

Comment:

Will acquire the Canadian retail chain of Moores the Suit People from Moores Retail Group Inc for about $72 mil in stocks

United States, Foreign operations, Males' Clothing, Retail, Men's Clothing Stores, Men's Wearhouse Inc., Article, Moore's The Suit People, Moores Retail Group Inc.

---

UniHost board advises against bid

Article Abstract:

The board of directors of Mississauga, Ontario-based hotel company UniHost Corp has rejected the take over bid from W-Westmont Corp of Toronto. Westmont has offered to acquire UniHost for C$6 per share, putting the value of company at C$240 million. The board said that it is looking for a better offer than the one proposed by Westmont. The bid of Westmont, which already owns an 18% stake in UniHost, will expire on May 21, 1999.

Hotels & Motels, Hotels (except Casino Hotels) and Motels, Hotels and motels, UniHost Corp.

---

Similar abstracts:

• Abstracts: Merrill targets Midland workers with $66-million. Onex reaps bonanza from Sky Chefs. Culinar selling Drake Bakeries
• Abstracts: Midland breakup fee $33-million. CIT has stock option if Newcourt bid fails. Trilon bosses got over $1-million
• Abstracts: Manalta board accepts Luscar bid. Alberta Energy launches hostile $446-million bid for Amber. Nova buys Huntsman operations
• Abstracts: Trimark funds hit by almost $1-billion in net redemptions. Sleeman stock jumps 17% on Stroh deal. Trimark financial woos high-profile fund manager from Spectrum United
• Abstracts: Manulife settles Ontario, B.C. class actions. Guardian ordered to pay for defence of cab firm. Great-West raises dividend after profit jumps 40%

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.