-
Talbots adopts poison pill on word of looming buyout
New York City -- The Talbots said on Tuesday that its board of directors has adopted a shareholder rights plan -- or a poison pill -- to protect its stockholders after a private equity firm disclosed it had acquired a sizeable stake in the company.
On Monday, Sycamore Partners LP revealed it had acquired a 9.9% stake in Talbots and said it planned to attempt to talk with the retailer about strategy and operations.
Reports put Talbots’ market value at $288 million, and suggest a buyout would exceed $400 million.
-
Anthropologie to open in Old Town property
Alexandria, Va. -- Douglas Development announced that Anthropologie has signed a lease for 10,500 sq. ft. in the newly acquired Douglas Development property at 610-12 King Street in Old Town, Alexandria, Va.
Anthropologie will move into the former Hallmark store by the end of this year.