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Talbots & Sycamore extend exclusivity agreement
24
May '12
The Talbots Inc. announced that the Company and Sycamore Partners have agreed to further extend the exclusivity period under the exclusivity agreement entered into on May 5, 2012 in connection with Sycamore Partners' non-binding proposal to acquire all of the Company's outstanding common stock for $3.05 per share. The exclusivity period will now expire on May 24, 2012.

The Company's Board of Directors is being advised in this process by its financial advisor, Perella Weinberg Partners, and legal advisor, White & Case LLP. There can be no assurance that any definitive agreement will be entered into, or, if entered into, what the terms thereof will be, or that this or any other transaction will be approved or consummated.

The Company does not intend to comment further regarding the negotiation with Sycamore Partners or the Company's evaluation of strategic alternatives, unless a specific transaction is recommended by the Board.

The Talbots, Inc. is a leading specialty retailer and direct marketer of women's apparel, shoes and accessories. At the end of the fiscal year 2011, the Company operated 517 Talbots stores in 46 states and Canada.

The Talbots Inc

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