Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Talbots Inc. (“Talbots” or the “Company”) (NYSE: TLB) for potential breaches of fiduciary duties in connection with their conduct related to the proposed sale of the Company to Sycamore Partners LP in an all-cash deal valued at about $215 million. Under the terms of the proposed transaction, Talbots stockholders will receive $3.05 in cash for each share of Talbots common stock they own, while according to Yahoo! Finance, at least one financial analyst has set a price target of $4.00 for Talbots.
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Whether the Talbots’ Board of Directors is acting in accordance with their fiduciary duties to Talbots’ stockholders to conduct an adequate and fair sales process to sell the Company, whether the proposed transaction undervalues Talbots’ shares, whether Talbots’ Board of Directors is adequately negotiating a price increase for the proposed transaction and by how much this proposed transaction undervalues the Company to the detriment of Talbots’ shareholders are the key focus of this investigation.
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