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Tuesday, January 20, 2015

Express Inc ends deal talks with Sycamore Partners, (NYSE: EXPR)

Apparel retailer Express Inc said it terminated talks to be bought by private equity firm Sycamore Partners, its largest shareholder. The company said talks ended due to the "unavailability of financing on commercially acceptable terms".Express's shares were down nearly 12 percent at $12.75 in premarket trading on Tuesday.Sycamore expressed an interest in buying Express last June after disclosing a 9.9 percent stake.

Shares of EXPR fell by 0.62% or $-0.09/share to $14.44. In the past year, the shares have traded as low as $11.80 and as high as $18.99. On average, 973000 shares of EXPR exchange hands on a given day and today's volume is recorded at 992014.