Express, Sycamore end acquisition talks

Columbus, Ohio – Express Inc. and private-equity firm Sycamore Partners announced that, despite having worked together in good faith towards a transaction during the past several months, discussions regarding Sycamore’s expressed interest in acquiring Express have been terminated. The companies said that discussions were halted due to the unavailability of financing on commercially acceptable terms.



In June, Express said it had been approached by Sycamore about a potential deal. Sycamore Partners has a 9.8% stake in Express.



In connection with the termination, Sycamore has agreed to be bound until June 15, 2015, by restrictions on disclosure of certain information and its ability to be involved in a third-party attempt to purchase Express.