Express, Sycamore Partners End LBO Talks

In Reports, What's New, Industry News by Accessories Staff

Express Summer 2012Columbus, OH and New York—Express, Inc. and Sycamore Partners today announced that despite having worked together in “good faith towards a transaction over the past several months,” discussions regarding Sycamore Partners’ expressed interest in acquiring Express have been terminated due to the unavailability of financing on commercially acceptable terms.

Sycamore, which is Express’ largest shareholder with a 9.9% stake, had expressed interest in buying Express last June.

In connection with such termination, Sycamore has agreed to be bound until June 15, 2015 deadline to reveal “certain information and its ability to contact or enter into an arrangement with third parties for the purpose of acquiring Express.”

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