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

Mark A. Carlson


March 17 (Reuters) – U.S. private equity firm Sycamore Associates is weighing a takeover bid for the British vogue retailer Ted Baker (TED.L), Sky Information described on Thursday.

Sycamore was taking into consideration making a formal method, the report , adding that the fairness company has employed investment decision bank Numis to advise on the probable offer.

This will come after a Wall Road Journal report before this week reported that Sycamore and Canada’s Hudson’s Bay system to bid in high $60s a share for Kohl’s Corp (KSS.N). Kohl’s had previously turned down buyout gives in February. read far more

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Ted Baker and Sycamore declined Reuters requests for a comment.

Ted Baker’s shares shut up 8.88% on Thursday at 98.75 pence, providing the business a full valuation of 182.3 million pounds ($239.65 million), Reuters calculations based mostly on Refinitiv Eikon knowledge showed.

In February, Ted Baker claimed it is “cautiously optimistic” about the outlook for the current year following a 35% year-on-year jump in sales in the fourth quarter, a interval when pandemic-connected limitations ended up nevertheless in location. examine more

($1 = .7607 lbs .)

(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

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