Talbots (TLB), Sycamore Partners Talks Continue, Exclusivity Period Extended
Tweet Send to a FriendGet Alerts TLB Hot Sheet
Trade TLB Now!
The Talbots, Inc. (NYSE: TLB) today announced that, based on ongoing discussions during the last week, the Company and Sycamore Partners have agreed to extend the exclusivity period under the exclusivity agreement entered into on May 5, 2012 in connection with Sycamore Partners’ non-binding proposal to acquire all of the Company’s outstanding common stock for $3.05 per share. The exclusivity period will now expire on May 22, 2012.
The Company’s Board of Directors is being advised in this process by its financial advisor, Perella Weinberg Partners, and legal advisor, White & Case LLP. There can be no assurance that any definitive agreement will be entered into, or, if entered into, what the terms thereof will be, or that this or any other transaction will be approved or consummated. The Company does not intend to comment further regarding the negotiation with Sycamore Partners or the Company’s evaluation of strategic alternatives, unless a specific transaction is recommended by the Board.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
The Company’s Board of Directors is being advised in this process by its financial advisor, Perella Weinberg Partners, and legal advisor, White & Case LLP. There can be no assurance that any definitive agreement will be entered into, or, if entered into, what the terms thereof will be, or that this or any other transaction will be approved or consummated. The Company does not intend to comment further regarding the negotiation with Sycamore Partners or the Company’s evaluation of strategic alternatives, unless a specific transaction is recommended by the Board.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: Correct: Buying Warner Chilcott plc (WCRX) Seen as Takeover Defense by Actavis (ACT)
- Morgans Hotel Group (MHGC) Clarifies Yucaipa Statements
- Despite Outside Interest, Tumblr and Yahoo! (YHOO) Are in Lockup (MSFT) (FB)
Create E-mail Alert Related Categories
Corporate News, Mergers and AcquisitionsRelated Entities
Perella Weinberg
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
