Talbots and Sycamore Partners have both said the Pension Benefit Guaranty Corporation will not challenge the private equity firm's buyout of the women's wear retailer.

The companies have also removed a financing requirement, which means Sycamore must accept shares tendered in the offer even if the parent company hasn't received proceeds of the financing commitments from its lenders.

Sycamore Partners said a letter received from the Pension Benefit Guaranty Corporation confirms it will not take action over the acquisition - a move that lets the companies go ahead with the deal.

Sycamore Partners agreed to buy troubled women's wear retailer Talbots for US$2.75 per share at the end of May. The transaction is valued at around US$369m, including net debt.

Earlier this week, Sycamore extended the offer expiry date by two weeks to 27 July. Around 80.9% of Talbots shares were tendered as of 13 July, Sycamore said on 16 July.