Women’s Wear Daily
04.23.2014
fashion-scoops
fashion-scoops

Talbots Sued by Shareholder

Alleges that the deal to be acquired by Sycamore Partners for $369 million is too low.

fashion-scoops/news

TALBOTS SUED BY SHAREHOLDER: A lawsuit was filed Monday in the Delaware Chancery Court against The Talbots Inc. by a shareholder alleging that the deal to be acquired by Sycamore Partners for $369 million is too low. The lawsuit filed by Fred Schwartz said the Talbots board agreed to a $2.75-a-share offer after rejecting an earlier $3.05-a-share bid last month, and that they allegedly failed to seek out higher offers. A spokeswoman for Talbots did not return a request for comment by press time.

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