airbus300
12 년 전
NEW YORK, Aug. 3, 2012 /PRNewswire/ -- Sycamore Partners today announced that TLB Merger Sub Inc., an entity affiliated with Sycamore Partners, has accepted for payment all shares of common stock of The Talbots, Inc. (TLB) (the "Company" or "Talbots") that were validly tendered into its tender offer to acquire all outstanding shares of common stock of the Company at a purchase price of $2.75 per share, net to the seller in cash, as of the expiration of the tender offer. The tender offer expired at 5:00 p.m., New York City time, on Thursday, August 2, 2012.
The depositary for the tender offer advised that, as of the offer's expiration, 51,769,611 shares of common stock of the Company had been validly tendered and not withdrawn in the tender offer, which, when added to the 6,999,316 shares of Company common stock owned by Sycamore Partners and its affiliates, represent approximately 83.6% of the outstanding shares of the Company. All such tendered shares have been accepted for payment in accordance with the terms of the tender offer.
Sycamore Partners intends to promptly move forward with a "short-form" merger under Delaware law after exercising its top-up option under the merger agreement, and Talbots will become a wholly-owned subsidiary of TLB Holdings LLC, an entity affiliated with Sycamore Partners. The merger is expected to be completed today, August 3, 2012. As a result of the merger, any shares of Talbots common stock not previously tendered will be cancelled and (except for shares held by Talbots, TLB Merger Sub Inc., TLB Holdings LLC or shares for which appraisal rights are properly demanded pursuant to Delaware law) will be converted into the right to receive the same $2.75 per share in cash paid in the tender offer. Following the merger, Talbots' common stock will cease to be traded on the New York Stock Exchange.
DAD2
13 년 전
Conf call info:
(RTTNews.com) - Talbots Inc. (TLB) will host a conference call at 4:30 PM ET on May 29, 2012, to discuss Q1 12 earnings results.
To access the live webcast, log on to www.thetalbotsinc.com/ir/ir.asp
To listen to the call, dial (866) 336-2423 with passcode "TLB".
For a replay call, dial (855) 859-2056; passcode 85892964
For comments and feedback: contact editorial@rttnews.com
http://www.rttnews.com
exlud
13 년 전
There is a conference call scheduled:
As previously announced, Talbots will host a conference call Monday, April 16, 2012, at 4:30 p.m. local time to discuss fourth quarter and full year 2011 results and comments on first quarter fiscal 2012. To listen to the live call, please dial (866) 336-2423, passcode “TLB” or log on to www.thetalbotsinc.com/ir/ir.asp . The call will be archived on its web site www.thetalbotsinc.com for a period of twelve months. In addition, an audio replay of the call will be available shortly after its conclusion and archived through April 19, 2012. This archived call may be accessed by dialing (800) 585-8367; passcode 71824301.
Here's a link to the call.
exlud
13 년 전
From the 8-K posted 4/13:
As announced on December 20, 2011, Talbots Board of Directors is exploring a full range of strategic alternatives to maximize value for all Talbots stockholders. Pending that evaluation, the Company will continue to pursue its long range plan. In addition, the Board of Directors continues its previously announced search for a successor President and Chief Executive Officer.
The Board has not set a definitive timetable for the completion of its evaluation and the Company stated that there can be no assurance of any transaction as a result of the Board’s review. The Company does not intend to discuss the status of the evaluation or provide interim updates.
Perella Weinberg Partners is acting as financial advisor and Dewey & LeBoeuf LLP is acting as legal counsel to Talbots in connection with the Board’s evaluation of strategic alternatives.
I'd say they need to step up the search for a new President and CEO.
As far as "strategic alternatives" to "maximize value", exactly what the hell does that mean?
After a disappointing quarter and a disappointing year, TLB might want to present a concrete plan of action and someone to execute it.