Thursday, May 31, 2012

The Talbots, Inc

I initiated a position in The Talbots, Inc. (Ticker: TLB) today. This is a specialty women’s retailer, which has agreed to be taken private by Sycamore for $2.75 in cash. Sycamore originally offered $3.05, which was rejected by Talbots. Sycamore walked away causing the stock to drop to $1.30 and change from $2.50. Today, Talbots announced a definitive merger agreement with Sycamore for $2.75. I picked up some shares today with an average cost of $2.54, which will generate a net return of 8.26% or (~30% annualized return assuming a closing by August 31).


At July 12, 2012, Anonymous Anonymous said...

can i tender TLB on friday if i bought on wednesday? My broker says it must be 3 business days beefore,so I should have bought by tuesday max.

At July 12, 2012, Blogger Money Turtle said...

I don't know who your broker is, but I've been able to tender on the same day I purchase the shares. If you already purchased, you should be able to immediately tender. That has been my experience with TD Ameritrade.

At July 12, 2012, Blogger Akhil said...

Mine is RBC Direct Investing in Canada.Was able to tender when I mentioned best effort basis Calm now :)


Post a Comment

<< Home