Sycamore Bumps Offer To $215M For Struggling Talbots

Law360, New York (May 7, 2012, 2:31 PM EDT) -- Women's retailer Talbots Inc. received a sweetened $215 million takeover offer on Monday from Sycamore Partners LLC, three months after opening its books to the buyout firm.

Sycamore, already Talbots' biggest shareholder, with a 9.9 percent stake, is now offering $3.05 per share for struggling Talbots, inching above a $3-per-share offer that was rejected in December. Talbots opened its books in January, hoping to entice a higher bid.

“The board continues to evaluate strategic alternatives, including Sycamore Partners' proposal,” Talbots said Monday.

The Massachusetts-based company also...
To view the full article, register now.