Sycamore Partners extended the deadline of its tender offer to buy women’s apparel retailer Talbots Inc. — the second time it has done so — to August 2. The private equity firm said in May that it would buy Talbots for $193.3 million, or $2.75 per share — a price that was lower than its previous offers. The tender offer was previously scheduled to expire on Friday, July 27, Reuters wrote.
(Reuters) – Sycamore Partners extended the deadline of its tender offer to buy women’s apparel retailer Talbots Inc — the second time it has done so — to August 2.
The private equity firm said in May that it would buy Talbots for $193.3 million, or $2.75 per share — a price that was lower than its previous offers.
The tender offer was previously scheduled to expire at 1700 ET on Friday, July 27.
Sycamore said 52.7 million Talbots shares had been tendered in. Together with the 7 million shares already owned by Sycamore Partners, this represents about 85 percent of Talbots’ outstanding shares.
All other terms and conditions of the tender offer remain unchanged, Sycamore said.
Talbots shares closed at $2.75 on Friday on the New York Stock Exchange.
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