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Technology Stocks : Blank Check IPOs (SPACS) -- Ignore unavailable to you. Want to Upgrade?

To: Glenn Petersen who wrote (2461)	5/25/2012 9:56:57 AM
From: Glenn Petersen	Read Replies (1) \| Respond to of 3862

TLB is down over 30% this morning. Talbots acquisition off; Sycamore walks from buyout deal Boston Business Journal by Galen Moore, Web Editor Date: Friday, May 25, 2012, 9:23am EDT - Last Modified: Friday, May 25, 2012, 9:27am EDT Sycamore Partners will take a pass on an opportunity to acquire struggling women's clothing retailer Talbots also announced first-quarter earnings Thursday, reporting an earnings improvement. Nonetheless, shares lost more than a third of their value in premarket trading, Thursday morning, after the company announced the acquisition would not take place. Sycamore and Talbots had entered an exclusivity agreement, which was extended earlier this week. On Thursday, Talbots said the agreement had expired without a deal. "Sycamore Partners informed the Company that it is not prepared to execute a transaction at this time," according to Talbots' statement. Sycamore and Talbots had discussed a buyout at $3.05 per share, which would have valued the company at $215 million. Its premarket share price of $1.72 gave Talbots a market cap of $121 million. Talbots reported first quarter income from continuing operations of $1.2 million, or $0.02 per share, "compared to last year's income from continuing operations of $0.9 million, or $0.01 per share." bizjournals.com