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Talbots Accepts Lower Sycamore Bid in $369 Million Takeover

Talbots Inc., the women’s clothing retailer trying to reverse falling sales, agreed to be bought by private-equity firm Sycamore Partners for a reduced price of $369 million, including debt.

Stockholders will get $2.75 a share, the Hingham, Massachusetts-based retailer said today in a statement. The offer is lower than Sycamore’s previous offer of $3.05 a share and more than more than double yesterday’s closing price of $1.29 a share.