Orlando, FL 5/31/12 (StreetBeat) -- Private equity firm Sycamore Partners will buy Talbots (NYSE:TLB) for $2.75 per share, a 30-cent discount to its initial offer for the retailer, Talbots said today. Talbots stock doubled on the news.Sycamore’s initial buyout offer was for $3.05, but it withdrew the offer on May 25.
The new cash deal is worth $369 million.
“The purchase price represents a 113% premium to the closing price on May 30, 2012 and a 76% premium to the closing price on December 6, 2011, the closing price prior to the public disclosure of Sycamore’s initial proposal to acquire the Company,” Talbots said in a statement.
Please contact www.thestreetbeat.com for interest in our latest investor relations platform the “CEO Interview Series” with its host Steve Kanaval. The package includes a one-on-one interview with a seasoned industry professional; published segment to our web site with embedded audio/video file; and a compressed file that can be easily e-mailed out to your current and/or potential investors. Please e-mail bflautt@gmail.com or call (662) 392-0740 for pricing and scheduling.
StreetBeat Disclaimer
No comments:
Post a Comment