Sycamore Seals $369M Talbots Buyout As Retail Stays Hot

Law360, New York (August 7, 2012, 4:42 PM EDT) -- Sycamore Partners LLC has closed its $369 million buyout of Talbots Inc., the private equity firm said Tuesday, finally dropping the curtain on a five-month chase that saw the troubled women's retailer play hard to get, only to leave about $22 million on the table.

Sycamore paid $2.75 per share, or about $193 million, for the 90.1 percent of Talbots stock it did not already own and assumed about $175 million in debt. That's lower than its previous per-share offer of $3.05 — which would have...
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