Jefferies Comments on The Talbots Acquisition by Sycamore Partners

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Jefferies & Company has published a research report on The Talbots
TLB
after the announcement that the company would be acquired by Sycamore Partners for $2.75/share. In the report, Jefferies writes, "This news had been anticipated for a long time now and we are relieved that TLB finally reached an agreement to be acquired. The company has been on a long and difficult journey over the past several years as it struggled to regain relevance with its customer base. While a successful turnaround has thus far eluded TLB (despite a variety of efforts by the management team), we think it will have a better chance of success as a private company away from the scrutiny and demands of public investors. As such, we view this acquisition as a positive development for the company." Jefferies maintains its Hold rating and $1.50 price target on The Talbots, which closed yesterday at $1.29.
Posted In: Analyst ColorNewsReiterationM&AAnalyst RatingsJefferies & CompanySycamore Partners
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