Talbots reports end to talks on buyout

5/26/2012

HINGHAM, Mass -- Women's clothier Talbots Inc. said Friday that a deadline expired without a deal in its talks about being acquired by a private equity firm and that it will pursue other options.

The retailer said that Sycamore Partners told the Massachusetts-based company that "it is not prepared to execute a transaction at this time." Sycamore had previously indicated it would pay $3.05 a share for Talbots. The end of the talks sent Talbots' stock down $1.05 a share, to a close at $1.51 Friday.