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Talbots turns down approximately $205.2M takeover offer from Sycamore Partners

from The Associated Press via The Washington Post

Women’s clothing chain Talbots Inc. rejected an approximately $205.2 million buyout offer from its biggest shareholder, saying the bid undervalues the company, and announced it would explore strategic options. The announcement was met favorably by investors, who sent the retailer's stock up 10 cents, or 3.8 percent, to $2.74 in morning trading. The shares have traded between $1.46 and $8.69 over the last year. more

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