Last Updated ( Wednesday, 30 May 2012 18:23 )
DATE_FORMAT_LC2=Wednesday,May 30 2012 12:00:00 am EDT   
Talbots and Potential Buyer Part Ways

talbotsHingham, MA — The exclusivity agreement between The Talbots, Inc. and Sycamore Partners, which was executed on May 5, 2012 and twice extended through May 24, 2012, has expired.

Sycamore Partners has informed Talbots that it is not prepared to execute a transaction at this time. Talbots remains open to pursuing a transaction with Sycamore Partners at $3.05 per share pursuant to an acceptable merger agreement. Because Talbots is no longer subject to exclusivity, it plans to actively explore other strategic alternatives. In the meantime, Talbots will continue to focus on executing its business plan and creating value for its shareholders. The company recently announced its first quarter results, which reflected improved operating income and positive earnings.

At the end of the first quarter 2012, The Talbots, Inc. operated 516 Talbots stores in 46 states and Canada. For more information, visit http://www.talbots.com.







SOURCE: The Talbots, Inc.

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