The Talbots Inc., Sycamore Partners Extend Deadline

The exclusivity agreement between the retailer and private equity firm has been extended until May 22.


DEADLINE EXTENDED: The Talbots Inc. said that, based on ongoing discussions during the last week, it and private equity firm Sycamore Partners have agreed to extend their exclusivity agreement until May 22. The earlier agreement, entered into on May 5 and providing for exclusivity between the parties on negotiations over Sycamore’s nonbinding proposal, was set to expire Tuesday. Sycamore’s proposal was for the acquisition of all of Talbots’ outstanding common stock for $3.05 a share, a deal valued at $215 million.