Talbots (TLB) Confirms Unsolicited Bid from Sycamore Partners, to Evaluate Offer

The Talbots, Inc. (NYSE: TLB) today announced that its Board of Directors has received an unsolicited letter, dated December 6, 2011, from Sycamore Partners outlining a non-binding proposal to acquire all of the Company’s outstanding common stock for $3.00 per share. The Board, in consultation with its external legal and financial advisors, Dewey & LeBoeuf LLP and Perella Weinberg Partners, intends to evaluate the proposal consistent with its fiduciary duties to act in the best interest of the Company’s stockholders.

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