Talbots Agreed To Be Acquired By Sycamore For $2.75 Per Share (TLB)

Less than a minute ago, 8:18am (ET) 05/31/2012 Comtex SmarTrend(R) 5-31-12-Talbots (NYSE:TLB) agreed to be acquired by Sycamore for $2.75 per share in cash. The price tag values the company at $369 million, including debt. The price tag also represents a 113% premium over yesterday's close. On May 25th, Talbots announced its exclusivity pact with Sycamore had expired. Sycamore had non-binding proposal to acquire Talbots for $3.05 per share. The Talbots, Inc. is an international specialty retailer and cataloger of women's, children's, and men's apparel, accessories, and shoes. The Company operates stores in the United States, Canada, and the