Sycamore Partners Offers $212M For Talbots

Struggling women’s clothing retailer Talbots Inc. has received an unsolicited letter from private equity firm Sycamore Partners, proposing a $212 million buyout of the company. The $3-a-share cash offer values the retailer at a 92% premium to the stock's Tuesday close of $1.56. As PEHub.com reported previously, Sycamore in August grabbed a 9.9% stake in Talbots, becoming the second biggest shareholders in Talbots, after OppenheimerFunds, which at the time held a 13.27% stake, according to Reuters. Talbots' stock has dropped 82 percent this year, Reuters reported Wednesday. Talbots in a written statement Tuesday said it was evaluating the buyout proposal.

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