Winston & Strawn Aids Sycamore In $369M Talbots Buyout

Law360, New York (May 31, 2012, 12:48 PM EDT) -- Playing hard to get cost Talbots Inc. in the end, as the struggling retailer agreed Thursday to a $369 million buyout, ending a five-month chase that once valued it as high as $390 million, including the assumption of debt.

Sycamore will pay $2.75 per share for the 90.1 percent of Talbots stock it does not already own and assume about $175 million in debt. That's lower than its previous offer of $3.05 but still more than double the Wednesday's closing price for Talbots shares, which have...
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