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US: Jos A Bank again rejects Men's Wearhouse bid
2014-01-20 11:13:00| Daily apparel & textile news and comment - from just-style.com
Jos A Bank Clothiers has again rejected a bid by Men's Wearhouse for the US men's apparel and footwear business.
Jos. A. Bank rejects Men's Wearhouse $1.61B bid
2014-01-18 02:55:26| Apparel - Topix.net
Men's Wearhouse then turned the tables and made a bid for Jos. A. Bank that was denied in December.
MTA Rejects LIRR Workers' Pay Hike Proposal
2014-01-16 19:08:18| Railroads - Topix.net
A proposed pay hike for Long Island Railroad workers on Wednesday got the thumbs down from the Metropolitan Transportation Authority.
Tags: pay
workers
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hike
NY top court rejects suit against MTA payroll tax
2014-01-14 21:33:08| Railroads - Topix.net
New York's top court upheld the controversial MTA payroll tax Tuesday, dismissing an appeal by Nassau County Executive Edward Mangano.
Time Warner Cable rejects Charter takeover approach
2014-01-14 08:46:00| Telecompaper Headlines
(Telecompaper) Time Warner Cable has rejected a takeover bid from Charter Communications, saying it "grossly" undervalues the company. TWC said this is the third approach it's had from Charter. The proposal was described only generally in a letter from Charter as being in the "low USD 130s", compared to TWC's current share price of around USD 132. Based on an interview with Charter CEO Tom Rutledge , Bloomberg reported that the offer was for USD 132.50, consisting of USD 83.00 in cash and USD 49.50 in Charter stock. TWC said Charter had previously offered cash and stock valued at USD 114 per share in June and USD 127 in October. Rob Marcus , Time Warner Cable's chairman and CEO, said the offer was a "non-starter", at just 7x EBITDA or "well below past transactions in the cable sector". Not only is the nominal value too low, the high share of payment in stock offers little to TWC shareholders, he said. According to the CEO, TWC made clear to Charter in later December that it was interested in a bid closer to USD 160 per share, including at least USD 100 in cash. Charter said in a statement that it had made "repeated overtures" to Time Warner Cable in the past six months, but only in December did the company engage in talks. Charter expects the possibility of a takeover and a premium bid has already been largely priced into TWC's share price. The response from Time Warner Cable's management led Charter to believe they had no intention of starting merger talks, so Charter is now making its proposal directly to shareholders.
Tags: time
approach
cable
charter
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