FONT-SIZE Plus   Neg

Talbots Receives $3.05/shr Acquisition Proposal From Sycamore Partners

Talbots Inc. (TLB) announced that its Board has received a non-binding proposal from Sycamore Partners to acquire all of the Company's outstanding common stock for $3.05 per share.

In addition, the company announced that it has entered into an exclusivity agreement with Sycamore Partners in connection with the non-binding proposal, which will terminate on May 15, 2012.

The company noted that its board continues to evaluate strategic alternatives, including Sycamore Partners' proposal.

The company stated that it does not intend to comment further regarding this proposal or its evaluation of strategic alternatives, unless a specific transaction is recommended by the Board.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Xbox Live users are aggravated about repeated outages that have prevented gamers from accessing online multiplayer features. Blaming higher egg prices and other rising costs, Dunkin's Donuts will close 100 stores, all of them Speedway gas station and convenience store locations. Micron Technology, Inc. said that its fourth quarter profit fell 59% from last year, as sales declined and gross margins deteriorated amid weak demand and pricing pressures due to continued softness in the personal computer market. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly sales.
comments powered by Disqus
Follow RTT