Business

Talbots discloses buyout offer from Sycamore of $3.05 a share

Hingham clothier Talbots Inc. said Monday that it has entered into an exclusivity agreement with a New York investment firm to acquire the struggling company for $3.05 a share.

The non-binding proposal, which terminates on May 15, is 5 cents above the price-per-share offer Sycamore Partners made to Talbots last year.

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