Sycamore Partners buying womens clothing company Talbots for about 1933 million

Sycamore Partners buying women’s clothing company Talbots for about $193.3 million HINGHAM, Mass. – The struggling women’s clothing chain Talbots is being acquired by Sycamore Partners for about $193.3 million in cash, an abrupt turnaround after buyout talks appeared to stall last week.Talbots said Thursday that its stockholders will receive $2.75 per share, which is less than the $3.05 per share previously offered by the private equity firm, but more than double Wednesday’s closing price of $1.29. It’s also a 76 per cent premium to the closing price on December 6, when Sycamore made its first offer of $3 per share.The Hingham, Mass. retailer has approximately 70.3 million outstanding shares.Including debt, the deal is valued at close to $369 million.Shares of The Talbots Inc. doubled to $2.58 in premarket trading.Talbots said Friday that exclusive talks with Sycamore had ended. by News Staff Posted May 31, 2012 8:40 am MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email read more