Hingham, Mass. -- Talbots said Friday that Sycamore Partners had walked away from negotiations over a proposed $215 million buyout of the retailer. The company, which also reported first quarter results, said it was exploring other strategic alternatives.
“Sycamore Partners informed the company that it is not prepared to execute a transaction at this time,” Talbots said in a statement on Friday. “The company remains open to pursuing a transaction with Sycamore Partners at $3.05 per share pursuant to an acceptable merger agreement providing for an appropriate level of closing certainty and supported by firm debt and equity financing commitments.”
Earlier this month, Talbots and Sycamore entered