Equity firm Sycamore Partners has sealed a deal to acquire teen apparel retailer Hot Topic for $600 million or $14 per share. The deal will take the chain private and provide the funds it needs for growth. "As a private company, we will be in a better position to navigate unpredictable market and economic cycles with a long-term perspective, rather than being subject to short-term and quarterly Wall Street expectations," said spokeswoman Jennifer Vides.

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