March 7 (Reuters) – Private equity firm Sycamore partners will take teen apparel retailer Hot Topic Inc private in a $600 million deal, adding to a retail portfolio that includes Talbots Inc.
- Deal at $14/share represents 30 pct premium to Wednesday close
- Hot Topic shares rise 29.8 pct in morning trade
- Hot Topic’s top shareholder backs deal
Sycamore, founded by retail industry veteran Stefan Kaluzny in 2011, will pay $14 per share in cash, a 30 percent premium to Hot Topic’s Wednesday close on the Nasdaq.
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