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Talbots extends exclusivity period with Sycamore for one day

By Bloomberg News

 |   

  May 23, 2012

Talbots Inc. extended its exclusivity agreement with Sycamore Partners LP for an additional day as it considers the private-equity firm’s $215 million buyout offer. The exclusivity period will expire Thursday, the Hingham-based company said Wednesday in a statement. Sycamore’s most recent offer was for $3.05 a share. Talbots said earlier this month that it was considering the offer after rejecting a previous bid of $3 a share as “substantially” undervaluing it.

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