Friday, June 1, 2012
Sycamore to take Talbots private for $193 million
Women's apparel retailer Talbots Inc, struggling with declining sales and high debt, will be bought by longtime suitor Sycamore Partners for $193.3 million, a price that is slightly lower than the private equity firm's previous offers. TalbotsSycamore, which is Talbots' second-largest shareholder, will pay $2.75 per share, representing a premium of 113 percent to the stock's close on Wednesday. Talbots rejected a $212 million buyout proposal from Sycamore in December but allowed the private
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