Private equity firm Sycamore weighs bid for fashion chain Ted Baker – Sky News


March 17 (Reuters) – U.S. non-public equity organization Sycamore Partners is weighing a takeover bid for the British manner retailer Ted Baker (TED.L), Sky Information reported on Thursday.

Sycamore was considering creating a formal technique, the report explained, adding that the fairness company has employed financial commitment financial institution Numis to recommend on the prospective offer.

This comes following a Wall Street Journal report previously this 7 days said that Sycamore and Canada’s Hudson’s Bay prepare to bid in superior $60s a share for Kohl’s Corp (KSS.N). Kohl’s had beforehand rejected buyout presents in February. read extra

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Ted Baker and Sycamore declined Reuters requests for a comment.

Ted Baker’s shares closed up 8.88% on Thursday at 98.75 pence, offering the business a complete valuation of 182.3 million lbs . ($239.65 million), Reuters calculations dependent on Refinitiv Eikon facts confirmed.

In February, Ted Baker claimed it is “cautiously optimistic” about the outlook for the current year immediately after a 35% yr-on-calendar year soar in product sales in the fourth quarter, a period of time when pandemic-similar constraints were being still in area. browse much more

($1 = .7607 kilos)

(This tale corrects to say 98.75 ‘pence’, not ‘pounds’, in paragraph 5)

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Reporting by Akriti Sharma in Bengaluru Modifying by Shailesh Kuber

Our Requirements: The Thomson Reuters Have confidence in Concepts.


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