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Talbots (TLB) responds to a standing offer from Sycamore Partners to buy the firm at $3/share,...

Talbots (TLB) responds to a standing offer from Sycamore Partners to buy the firm at $3/share, saying that it concludes the price was "inadequate" and substantially undervalues the firm. The Talbot board says it will explore a full range of "strategic alternatives." Shares +3.4% premarket.
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