Notable Mergers and Acquisitions of the Day 12/7/2011: [(TLB) (JCP)/(MSO) (DAL)]

• The Talbots, Inc. (NYSE: TLB) received an unsolicited letter on 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.
  
  
• J. C. Penney Company, Inc. (NYSE: JCP) and Martha Stewart Living Omnimedia, Inc. (NYSE: MSO) announced they have entered into a strategic alliance and will join forces to create a unique and comprehensive retail experience featuring Martha Stewart products, know-how and advice.
  Under the terms of this 10-year commercial agreement, the two companies will also jointly develop an e-commerce site, expected to launch in 2013. MSLO is expected to receive in excess of $200 million from J. C. Penney over the initial 10-year contract period.
  
  J. C. Penney has invested $38.5 million for 11 million newly issued shares of Class A common stock at $3.50 a share, for a 16.6 percent stake in MSLO. In addition, J. C. Penney will have representation on MSLO's Board of Directors.
  
  
• GOL Linhas Aereas Inteligentes S.A. (NYSE: GOL) informed its shareholders and the market in general that it signed a binding agreement involving the acquisition by Delta Air Lines, Inc. (NYSE: DAL) of a strategic minority interest of $100 million of GOL´s preferred shares.

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