Business

Talbots to be acquired by Sycamore Partners

Talbots Inc., a clothing brand known for classically styled apparel for middle-age women, has agreed to be acquired by an affiliate of the private equity firm Sycamore Partners, the two companies said Thursday.

Under the agreement, Sycamore Partners plans to will acquire all the outstanding common stock of Talbots for $2.75 per share in cash. A previous offer from Sycamore Partners had called for $3.05 a share. But then negotiations stalled.

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