By  on March 29, 2010

The Talbots Inc. has pushed back the deadline on an exchange offer in its merger with BPW Acquisition Corp. to 6 p.m. today.
The offer had been set to expire Friday at midnight. Talbots said that as of the original deadline 30.6 million, or about 87.5 percent, of BPW warrants had been tendered. The proposed deal requires 90 percent of warrants issued at BPW’s initial public offering to be exchanged for shares of Talbots stock or warrants to buy Talbots stock.
On Friday a Delaware court denied a request for an order halting the deal brought by a group of hedge funds that own about 9 percent of the outstanding BPW warrants.
For complete coverage, see Tuesday’s WWD.

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