The Talbots, Inc. (NYSE:TLB) today announced that its Board of Directors has received an unsolicited letter, dated December 6, 2011, from Sycamore Partners outlining a non-binding proposal to acquire all of the Company’s outstanding common stock for $3.00 per share. The Board, in consultation with its external legal and financial advisors, Dewey & LeBoeuf LLP and Perella Weinberg Partners, intends to evaluate the proposal consistent with its fiduciary duties to act in the best interest of the Company’s stockholders.
The Talbots, Inc. is a leading specialty retailer and direct marketer of women’s apparel, shoes and accessories. At the end of the third quarter 2011, the Company operated 551 Talbots stores in 46 states and Canada. Talbots brand on-line shopping site is located at www.talbots.com.
Julie Lorigan, 781-741-7775
Senior Vice President, Investor and Media Relations
FTI Consulting, Inc.
Leigh Parrish, Rachel Rosenblatt
Investor and Media Relations
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