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The Talbots Soared After Receiving Unsolicited Offer Letter
Published on Wednesday, 07 December 2011 19:24 Written by Paul Oldrini
New York, December 7th (TradersHuddle.com) – The Talbots, Inc. (NYSE: TLB) soared 69.87% or $0.1.09 to $2.65 Wednesday after the company announced that its Board of Directors has received an unsolicited letter, dated December 6, 2011, from Sycamore Partners outlining a non-binding proposal to acquire all of the Company's outstanding common stock for $3.00 per share.
The Board, in consultation with its external legal and financial advisors, Dewey & LeBoeuf LLP and Perella Weinberg Partners, intends to evaluate the proposal consistent with its fiduciary duties to act in the best interest of the Company's stockholders.
The Talbots, Inc. is a specialty retailer and direct marketer of women’s apparel, accessories and shoes sold under the Talbots brand. The Company’s segments include: Stores and Direct Marketing. On April 7, 2010, the Company was merged with BPW Acquisition Corp.
Related Articles
- Talbots and Sycamore Partners Extend Exclusivity Agreement
- Faruqi & Faruqi, LLP Announces Investigation of Talbots Inc.
- The Law Firm of Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of The Talbots, Inc. in Connection with a Going Private Proposal
- Rigrodsky & Long, P.A. Investigates The Talbots, Inc. Over Its Receipt Of A Proposal To Be Taken Private By Sycamore Partners
- Talbots Shareholder Alert: The Briscoe Law Firm and Powers Taylor, LLP Investigate the Board of Talbots Concerning the Receipt of an Acquisition Proposal from Sycamore Partners
- Talbots Receives Proposal from Sycamore Partners to Acquire All Outstanding Common Stock
- The Talbots, Inc. to Broadcast Fourth Quarter and Full Year 2011 Earnings Results Conference Call on the Web
- Talbots Reports Fourth Quarter and Fiscal Year 2011 Results
- Talbots Announces New $75 Million Secured Term Loan and Amendment of $200 Million Secured Revolving Credit Facility
Related Partner Headlines
- Talbots and Sycamore Partners Extend Exclusivity Agreement - Benzinga
- Talbots Shares Jump on Takeover Reports - TheStreet.com
- Talbots Jumps on News of $3 Per Share Buyout Bid - TheStreet.com
- Talbots Stock Hits New 52-Week Low (TLB) - TheStreet.com
- Talbots Stock Hits New 52-Week Low (TLB) - TheStreet.com
- Talbots Stock Gaps Down On Today's Open (TLB) - TheStreet.com
- Talbots Stock Hits New 52-Week Low (TLB) - TheStreet.com
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