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Sycamore Partners begins due diligence on Talbots Monday, 30th January 2012
Sycamore Partners is now doing due diligence on Talbots Inc, which is hoping to sell itself, just one month after the women’s apparel chain rebuffed a takeover offer from the private equity firm.
According to a regulatory filing on Monday, Sycamore said the confidentiality agreement signed with Talbots, effective as of 27 January, will give it access to certain confidential information regarding the business, strategy, operations and prospects of the company.
The firm added that the agreement contains standstill provisions that prohibit Sycamore from taking certain actions without Talbots’ or its board’s prior written consent.
Talbots shares rose 5 per cent to USD 3.49 in early trade on the New York Stock Exchange.
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Tagged talbots, sycamore, partners, due, diligence, january, confidential, my, retail, media, news, stock, fashion, womenswear
