Talbots seems to have arose the interest of the private capital community as its advisor, Perella Weinberg, has been actively looking for bids for the company as part of its exploration of strategic alternatives after Talbots turneddown a $212 million buyout proposal from Sycamore Partners in December. On Friday, when the news jumped out, Talbots shares closed up 18.6 percent at $3.19 after reaching $3.29 earlier in the day.
"A mix of strategic and private equity buyers have been approached. The data room will open in the next few days followed by a two-stage auction. They should have an outcome by the end of the second quarter," one of the sources said. Golden Gate and TPG Capital are among the companies weighing bids for Talbots, CNBC updated last week.
According to Reuters, Talbots' advisor Perella Weinberg has been actively looking for bids for the company as part of its exploration of strategic alternatives after Talbots turned down a $212 million buyout proposal from Sycamore Partners in December, close sources to the matter said.
Sycamore’s offer, which already owns 9.9 percent of Talbots, was up to $3.00 per share, a $1.44 premium over Talbot's $1.56 share price at the time the offer was made. As understood by market insiders, Sycamore would be hoping to capture synergies in Talbots after it bought 51 percent of Limited Brands Inc's (LTD.N) apparel sourcing division, Mast Global Fashions, in November.
TLB had a trade volume of 7.43 million shares was higher as compared to average trading capacity of 1.49 million shares. As reported by trade media, the stock is ahead its 52 week low with 118.49% and logging behind from its 52 week high price with -52.95%. TLB last month stock price volatility remained 3.95%. In its share capital TLB has 70.51 million outstanding shares among them 68.93 million shares have been floated in market exchange. TLB stock institutional ownership remained 81.10% while insider ownership included 1.24%.
Shares price of TLB moved forward from its 20 days moving average with 17.21% and remote positively from 50 days moving average with 28.85%. TLB current year earnings per share experienced an addition with 123.38% while its current quarter performance remained 29.67%.
On Friday 20th January, The Talbots, Inc. TLB +2.67% announced that in view of the unusual market activity in Talbots common stock, the NYSE has contacted the Company in accordance with its usual practice. “As a matter of company policy, Talbots stated that it will not comment on the market activity,” they advanced.