Sycamore delays Talbots offer by two days
HINGHAM, Mass. — Talbots said private-equity firm Sycamore Partners extended the date of the commencement of its offer to buy the women's apparel retailer by two days.
Sycamore will now begin its offer for all outstanding Talbots' shares on June 15, Talbots said in a statement.
Back in May, Sycamore raised its takeover offer to $214.6 million.
Talbots said Sycamore had offered to pay $3.05 per share -- slightly higher than the $3.00 per share offer it made in December.
Talbots' fourth-quarter loss widened to $53.2 million, or 77 cents per share, from last year’s loss from continuing operations of $2.8 million, or 4 cents per share.
Fiscal year 2011 loss from continuing operations was $111.8 million, or $1.62 per share, compared with last year’s income from continuing operations of $7.6 million, or 11 cents per share.