Talbots receives $210.9 million offer
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Clothing retailer The Talbots Inc. says it has received a $210.9 million takeover offer from private equity firm Sycamore Partners.
Sycamore, Talbot’s largest shareholder, is offering $3.05 per share for the company. That’s a 9 percent premium from the stock’s closing price on Friday.
Talbots, based in Hingham, Mass., announced the offer on Monday.
Talbots had 69.2 million shares outstanding as of Jan. 28, according to a filing with the Securities and Exchange Commission.
The company rejected a $3 per share takeover offer from Sycamore Partners in December, saying it undervalued the Hingham, Mass. company. Sycamore already has a 9.4 percent stake in Talbots.
Talbots says its board is evaluating the current proposal and other strategic alternatives.
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