Sycamore Partners Offers to Buy Talbots (TLB) at $3/Share
Tweet Send to a Friend
Get Alerts TLB Hot Sheet
Trade TLB Now!
The Talbots, Inc. (NYSE: TLB) shares are ripping higher in Tuesday's after-hours session after Sycamore Partners filed an amended 13D with the U.S. SEC disclosing a letter offering to acquire remaining shares of the company for $3 per share.
From the filing:
"On December 6, 2011, Sycamore Partners sent a letter to Gary M. Pfeiffer, the Chairman of the Board of Directors of the Issuer, pursuant to which Sycamore made a proposal to acquire all of the issued and outstanding Shares not owned by the Reporting Persons for $3.00 per Share in cash, subject to the terms specified in the December 6 Letter. In the December 6 Letter, Sycamore also confirmed its commitment to protecting the value of its investment in the Issuer and noted that it was prepared to pursue any and all actions available to it in order to ensure that the Issuer’s board actively and thoughtfully explores strategic alternatives, including Sycamore’s proposal."
In the filing, Sycamore showed holding a stake equal to 9.9 percent.
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
From the filing:
"On December 6, 2011, Sycamore Partners sent a letter to Gary M. Pfeiffer, the Chairman of the Board of Directors of the Issuer, pursuant to which Sycamore made a proposal to acquire all of the issued and outstanding Shares not owned by the Reporting Persons for $3.00 per Share in cash, subject to the terms specified in the December 6 Letter. In the December 6 Letter, Sycamore also confirmed its commitment to protecting the value of its investment in the Issuer and noted that it was prepared to pursue any and all actions available to it in order to ensure that the Issuer’s board actively and thoughtfully explores strategic alternatives, including Sycamore’s proposal."
In the filing, Sycamore showed holding a stake equal to 9.9 percent.
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
- Yahoo! (YHOO) Board Said to Approve $1.1B Tumblr Deal
- Websense (WBSN) Acquired by Vista Equity Partners for $24.75/Share
- J.P. Morgan (JPM) CEO Dimon Might Have Enough Votes to Stay Chairman - NY Times
Create E-mail Alert Related Categories
Hot List, Hot M&A, Mergers and Acquisitions, Momentum MoversRelated Entities
13D
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!
