https://www.oann.com/private-equity-firm-sycamore-weighs-bid-for-fashion-chain-ted-baker-sky-news/?utm_source=rss&utm_medium=rss&utm_campaign=private-equity-firm-sycamore-weighs-bid-for-fashion-chain-ted-baker-sky-news

The Ted Baker logo is seen at their store at the Woodbury Common Premium Outlets in Central Valley, New York, U.S., February 15, 2022. REUTERS/Andrew Kelly

March 17, 2022

(Corrects to say 98.75 ‘pence’, not ‘pounds’, in paragraph 5)

(Reuters) -U.S. private equity firm Sycamore Partners is weighing a takeover bid for the British fashion retailer Ted Baker, Sky News reported on Thursday.

Sycamore was considering making a formal approach, the report said https://bit.ly/3MW2uMy, adding that the equity firm has hired investment bank Numis to advise on the potential offer.

This comes after a Wall Street Journal report earlier this week said that Sycamore and Canada’s Hudson’s Bay plan to bid in high $60s a share for Kohl’s Corp. Kohl’s had previously rejected buyout offers in February.

Ted Baker and Sycamore declined Reuters requests for a comment.

Ted Baker’s shares closed up 8.88% on Thursday at 98.75 pence, giving the company a total valuation of 182.3 million pounds ($239.65 million), Reuters calculations based on Refinitiv Eikon data showed.

In February, Ted Baker said it is “cautiously optimistic” about the outlook for the current year after a 35% year-on-year jump in sales in the fourth quarter, a period when pandemic-related restrictions were still in place.

($1 = 0.7607 pounds)

(Reporting by Akriti Sharma in Bengaluru; Editing by Shailesh Kuber)

You Might Like
Learn more about RevenueStripe...