It looks like Sycamore Partners, which owns approximately 9.9% of Express’ outstanding shares, is interested in acquiring the retailer.
Sycamore Partners has agreed to acquire teen retailer Hot Topic for approximately $600 million, or 14 cents per share in cash.
Private equity firm Sycamore Partners, which has wrapped up its $391 million acquisition of The Talbots, appointed Michael Archbold, formerly president and COO of Vitamin Shoppe, as CEO and CFO of Talbots.
Talbots said private-equity firm Sycamore Partners extended the date of the commencement of its offer to buy the women's apparel retailer by two days.
Talbots said Friday that Sycamore Partners had walked away from negotiations over a proposed $215 million buyout of the retailer.
Talbots said it has received a raised takeover offer of $214.6 million from private equity firm Sycamore Partners.