Winston Aids Sycamore In $202M Takeover Bid For Talbots

Law360, New York (December 7, 2011, 12:13 PM EST) -- Private equity firm Sycamore Partners LLC has offered to buy struggling women's clothing chain Talbots Inc. for $202 million, the retailer revealed late Tuesday — nearly twice its market value at the day's close.

New York-based Sycamore is already Talbots' biggest shareholder, with a 9.9 percent stake in the company.

According to a letter to the Talbots board filed with the U.S. Securities and Exchange Commission, the firm said it was concerned by the retailer's weak sales and recent leadership turbulence.

“Given the company’s rapidly deteriorating...
To view the full article, register now.