Friday, June 1, 2012
Talbots says Sycamore walks away from offer
Women's apparel retailer Talbots Inc said Sycamore Partners, with which it had been in exclusive talks for a buyout, was not prepared to execute a deal at this time. Shares of the company plunged 23 percent in premarket trading to $1.97. They closed at $2.56 on Thursday on the New York Stock Exchange. Talbots said it remains open to pursuing a transaction with Sycamore at $3.05 per share, if the private equity firm can provide certainty over closing the deal and financing commitments. The offer
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