Sycamore Partners, the private equity firm that took a 9.9 percent stake in The Talbots Inc., has offered $186.8 million in cash to buy the remaining shares it doesn’t own to preserve its investment.
In a letter dated Dec. 6 to Gary M. Pfeiffer, the chairman of Talbots’ board, the private equity firm expressed concerns about Talbots’ “current condition and future direction.” The letter was made public in a regulatory filing Tuesday with the Securities and Exchange Commission.
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