The offer, which is valued at around $215m, follows a $3.00 per share bid for the company back in December, which Talbots turned down. The $212m offer valued the company at a 93 per cent premium to the $1.56 closing price the previous day.
Shares in Talbots have fallen sharply within the last 12 months, from a 52 week high of $10.40 to $2.60 at 16.25 GMT today. Sycamore currently holds a 9.9 per cent stake in the business.
Talbots announced plans last year to cut staff by nine per cent and scrap national advertising campaigns in a bid to cut costs and remarket itself with new store layouts, to appeal to a younger market niche as well as its current customer base. The company operated 551 retail outlets in the US and Canada at the end of the third quarter last year.
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