Sycamore's 9.9% Stake in Talbots

Private equity firm Sycamore Partners bought a 9.9% stake in women’s clothing retailer The Talbots Inc. for $21.6 million. Talbots previously adopted a 'poison pill' that triggers a stockholder rights agreement to double the voting power of existing shareholders in the event of a takeover bid. The pill activates when a new shareholder acquires 10% more of Talbots stock.