You can now read 5 articles in a month for free on Read as much as you want anywhere and anytime for just 99¢.

Red Sox Live



▲  1st Inning 0 outs

Talbots, Sycamore to delay start of tender offer

Talbots Inc., a Hingham retailer known for classically styled clothing for middle-age women, and Sycamore Partners have agreed to push back the start of the tender offer tied to Talbots’ buyout by two days until Friday.

The companies gave no reason for the delay in a news release on Wednesday. A message seeking an explanation was left with Talbots but was not immediately returned.

Continue reading below

Last month, the struggling women’s clothing chain agreed to be taken private by New York-based Sycamore Partners for about $193.3 million in cash. Talbots’ stockholders will receive $2.75 per share.

The price was almost 10 percent less than the $3.05 per share that Sycamore had previously offered, but it was a 76 percent premium to Talbots’ closing price on Dec. 6 when Sycamore made its first offer of $3 per share.

The acquisition is expected to close in the third quarter.

Talbots runs 516 stores in 46 states and Canada.

Its stock shed 2 cents to $2.43 in premarket trading on Wednesday.

Loading comments...
Want each day's news headlines delivered fresh to your
inbox every morning? Just connect with us
in one of the following ways:
Please enter a valid email will never post anything without asking.
Privacy Policy
Subscriber Log In

You have reached the limit of 5 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of
Marketing image of