Sycamore Partners Shelves $215M Talbots Purchase Offer

Law360, New York (May 25, 2012, 2:04 PM EDT) -- Private equity firm Sycamore Partners has tabled its $215 million buyout bid for Talbots Inc. after the struggling retailer opened its books in January to its biggest shareholder and this month twice extended an exclusivity agreement, the company said Friday.

Talbots said in a statement that it was still open to Sycamore Partners' $3.05-per-share deal if the parties could firm up financing and draft a merger agreement with “an appropriate level of certainty.” But for Sycamore Partners, the clock apparently ran out.

“Sycamore Partners informed the...
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