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Sycamore Partners raises offer for Talbots
Hingman, Mass. -- The Talbots Inc. said it has received a raised takeover offer of $214.6 million from private equity firm Sycamore Partners. The company also said it entered an exclusivity agreement with Sycamore, which will end on May 15.
Talbots said Sycamore had offered to pay $3.05 per share -- slightly higher than the $3.00 per share offer it made in December.
The board of retailer said it continues to evaluate strategic alternative. -
The Loft to open in Fort Worth entertainment district
New York -- Ann Inc. will open a 5,394-sq.-ft. Loft store in Fort Worth, Texas’s shopping, dining and entertainment district Sundance Square.
The new store, slated to open in the fall in a vacant restaurant space, will join a lineup of Houston St. retailers that includes Jos. A. Bank, Pappagallo Classiques and Leddy’s Ranch.
Sundance Square unveiled plans for three new buildings to open in 2013 with retail space on the ground level of the buildings.