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Express Adopts Poison Pill as Sycamore Partners Buys Shares

TheStreet

Private equity firm Sycamore Partners is making a move on the clothing chain Express. Sycamore bought 9.9% of the stock before Express moved to adopt a poison pill preventing any shareholder from owning more than 10% of the stock. Shares of Express shot up in early trading and Brean Capital raised their target price on the stock. Sycamore has acquired other retail chains like The Jones Group, Talbots and Hot Topic. More recently, Sycamore purchased the brand rights to Coldwater Creek, which recently went bankrupt. Express has struggled to recover from a weak holiday season and a harsh winter.