© Reuters. The Ted Baker logo can be seen in their store at the Woodbury Common Premium Outlets in Central Valley, New York, US Feb. 15, 2022. REUTERS/Andrew Kelly
(Correction of 98.75 ‘pence’, not ‘pounds’, in paragraph 5)
(Reuters) – US private equity firm Sycamore Partners is considering a takeover bid for British fashion retailer Ted Baker, Sky News reported Thursday.
Sycamore considered taking a formal approach, the report said, adding that the equity firm 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 (NYSE:)’s Bay plan to bid a high $60sa share on Kohl’s Corp (NYSE:). Kohl’s had already rejected a takeover offer in February.
Ted Baker and Sycamore have rejected requests from Reuters for comment.
Shares of Ted Baker closed 8.88% on Thursday at 98.75 pence, giving the company a total valuation of 182.3 million pounds ($239.65 million), Reuters calculations showed based on data from Refinitiv. Eikon.
In February, Ted Baker said it was “cautiously optimistic” about the outlook for the current year following a 35% year-over-year revenue increase in the fourth quarter, a period when pandemic-related restrictions were still in place.
($1 = 0.7607 pounds)
Disclaimer: Fusion Media would like to remind you that the data on this website is not necessarily real-time or accurate. All CFDs (Stocks, Indices, Futures) and Forex prices are not provided by exchanges but rather by market makers, and therefore prices may not be accurate and may differ from the actual market price meaning prices are indicative and not suitable for trading purposes . Therefore, Fusion Media does not bear any responsibility for any trading losses that you may incur as a result of using this data.
Fusion Media or anyone associated with Fusion Media assumes no liability for any loss or damage resulting from reliance on any information, including data, quotes, charts, and buy/sell signals on this website. Be fully informed about the risks and costs associated with trading the financial markets, it is one of the riskiest forms of investment possible.
This post Private equity firm Sycamore weighs offer for fashion chain Ted Baker
was original published at “https://www.investing.com/news/stock-market-news/private-equity-firm-sycamore-weighs-bid-for-fashion-chain-ted-baker–sky-news-2787019”
