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


March 17 (Reuters) – U.S. personal equity organization Sycamore Associates is weighing a takeover bid for the British manner retailer Ted Baker (TED.L), Sky Information documented on Thursday.

Sycamore was thinking of generating a official method, the report explained, incorporating that the equity organization has employed financial commitment bank Numis to recommend on the likely offer you.

This arrives following a Wall Avenue Journal report earlier this 7 days said that Sycamore and Canada’s Hudson’s Bay program to bid in significant $60s a share for Kohl’s Corp (KSS.N). Kohl’s had beforehand rejected buyout delivers in February. browse additional

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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, giving the organization a overall valuation of 182.3 million lbs . ($239.65 million), Reuters calculations based on Refinitiv Eikon information confirmed.

In February, Ted Baker stated it is “cautiously optimistic” about the outlook for the latest year immediately after a 35% year-on-year leap in income in the fourth quarter, a period when pandemic-related limits had been nonetheless in area. study extra

($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 Editing by Shailesh Kuber

Our Criteria: The Thomson Reuters Trust Concepts.


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