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Express adopts poison pill after Sycamore makes acquisition move
It looks like Sycamore Partners, which owns approximately 9.9% of Express’ outstanding shares, is interested in acquiring the retailer.
Express confirmed that it has received a letter from Sycamore and has established a special committee of the board to determine a course of action that serves the best interest of all stockholders. The retailer has also engaged Perella Weinberg Partners LP and Sullivan & Cromwell LLP as advisers to itself and the special committee.