By  on March 30, 2010

Shares of The Talbots Inc. shot up 13.2 percent Monday after the company extended the deadline of a warrant exchange offer that needs to be completed before the firm can rejigger its balance sheet through a merger with BPW Acquisition Corp.

About 87.5 percent of the BPW warrants were submitted to be exchanged for Talbots stock as of the initial deadline Friday. At least 90 percent of the warrants need to be tendered for the merger to go forward.

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