Talbots Receives Unsolicited Letter from Sycamore Partners Proposing to Acquire All Outstanding Common Stock
December 06 2011 - 6:41PM
Business Wire
The Talbots, Inc. (NYSE:TLB) today announced that its Board of
Directors has received an unsolicited letter, dated December 6,
2011, from Sycamore Partners outlining a non-binding proposal to
acquire all of the Company’s outstanding common stock for $3.00 per
share. The Board, in consultation with its external legal and
financial advisors, Dewey & LeBoeuf LLP and Perella Weinberg
Partners, intends to evaluate the proposal consistent with its
fiduciary duties to act in the best interest of the Company’s
stockholders.
The Talbots, Inc. is a leading specialty retailer and direct
marketer of women’s apparel, shoes and accessories. At the end of
the third quarter 2011, the Company operated 551 Talbots stores in
46 states and Canada. Talbots brand on-line shopping site is
located at www.talbots.com.
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