Joele Frank, Wilkinson Brimmer Katcher is guiding Sycamore Partners’ $193M offer to acquire Talbots, the struggling retailer of women’s clothing and accessories.

The offer is less than the $212M offer that Talbots had rejected as “inadequate.”

In accepting the lower bid, Talbots noted that it represents a 76 percent premium to where its shares were trading when Sycamore’s offer was first disclosed in December.

Talbots CEO Trudy Sullivan, who is exiting the Hingham, Mass.-based company, said the company is “pleased with the value this transaction delivers to shareholders.” She called Sycamore a “strong investor with substantial resources and expertise.”

Talbots lost money in four of the last five years, and has been closing stores and cutting its workforce in a bid to get back on track.

FTI Consulting’s Rachel Rosenblatt represents Talbots. JFWBK’s Michael Freitag, Tim Lynch and Jennifer Friedman comprise Sycamore’s team.

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