Home / Knowledge / News / Apparel/Garments / Sycamore completes buyout of apparel retailer Talbots
Sycamore completes buyout of apparel retailer Talbots
06
Aug '12
Sycamore Partners announced that TLB Merger Sub Inc., an entity affiliated with Sycamore Partners, has accepted for payment all shares of common stock of The Talbots, Inc. that were validly tendered into its tender offer to acquire all outstanding shares of common stock of the Company at a purchase price of $2.75 per share, net to the seller in cash, as of the expiration of the tender offer. The tender offer expired at 5:00 p.m., New York City time, on Thursday, August 2, 2012.

The depositary for the tender offer advised that, as of the offer's expiration, 51,769,611 shares of common stock of the Company had been validly tendered and not withdrawn in the tender offer, which, when added to the 6,999,316 shares of Company common stock owned by Sycamore Partners and its affiliates, represent approximately 83.6% of the outstanding shares of the Company. All such tendered shares have been accepted for payment in accordance with the terms of the tender offer.

Sycamore Partners intends to promptly move forward with a "short-form" merger under Delaware law after exercising its top-up option under the merger agreement, and Talbots will become a wholly-owned subsidiary of TLB Holdings LLC, an entity affiliated with Sycamore Partners. 

The merger is expected to be completed today, August 3, 2012.  As a result of the merger, any shares of Talbots common stock not previously tendered will be cancelled and (except for shares held by Talbots, TLB Merger Sub Inc., TLB Holdings LLC or shares for which appraisal rights are properly demanded pursuant to Delaware law) will be converted into the right to receive the same $2.75 per share in cash paid in the tender offer. 

Following the merger, Talbots' common stock will cease to be traded on the New York Stock Exchange.

The Talbots, Inc. is a leading specialty retailer and direct marketer of women's apparel, shoes and accessories. At the end of the second quarter 2012, the Company operated 516 Talbots stores in 46 states and Canada.

Sycamore Partners

Must ReadView All

Textiles | On 29th Mar 2017

'Increase in demand for organic designer linen'

There has been an increase in the demand for organic designer linen....

Apparel/Garments | On 29th Mar 2017

Jo-Ann launches 'Buy Online, Pick Up in Store' service

Jo-Ann Fabric and Craft Stores, a specialty retailer of crafts and...

Courtesy: Pratibha Syntex

Textiles | On 29th Mar 2017

Pratibha Syntex wins C&A's Best Global Supplier Award

Pratibha Syntex, a leading manufacturer and exporter of knitted...

Interviews View All

Stefan Warnaar
Peak to Plateau

People are willing to pay for quality and performance

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search