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Talbots Extends Sycamore Agreement

Exclusivity deal lasts for two more days.

The Talbots Inc. said it has agreed to extend its exclusivity agreement with Sycamore Partners for two days.

 

The deal further extends the exclusivity period under the agreement that the two parties entered into on May 5 in connection with Sycamore Partners’ nonbinding proposal to acquire all of Talbots’ outstanding common stock for $3.05 a share. The exclusivity period will now expire on May 24.

 

The nonbinding exclusivity deal initially had been set to expire May 15, and had previously been extended to Tuesday.