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

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

March 17 (Reuters) – U.S. personal fairness agency Sycamore Partners is weighing a takeover bid for the British fashion retailer Ted Baker (TED.L), Sky News documented on Thursday.

Sycamore was considering creating a formal strategy, the report , introducing that the equity agency has employed financial investment bank Numis to suggest on the probable present.

This comes following a Wall Avenue Journal report before this 7 days said that Sycamore and Canada’s Hudson’s Bay plan to bid in high $60s a share for Kohl’s Corp (KSS.N). Kohl’s had beforehand turned down buyout presents in February. read through much more

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Ted Baker and Sycamore declined Reuters requests for a remark.

Ted Baker’s shares closed up 8.88% on Thursday at 98.75 pence, giving the organization a overall valuation of 182.3 million kilos ($239.65 million), Reuters calculations based mostly on Refinitiv Eikon knowledge showed.

In February, Ted Baker stated it is “cautiously optimistic” about the outlook for the present yr after a 35% year-on-12 months jump in product sales in the fourth quarter, a period when pandemic-connected constraints were nonetheless in put. study extra

($1 = .7607 pounds)

(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 Ideas.