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

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

Sycamore was taking into consideration producing a official technique, the report stated, incorporating that the equity business has hired financial commitment bank Numis to recommend on the possible offer you.

This comes following a Wall Street Journal report previously this week said that Sycamore and Canada’s Hudson’s Bay prepare to bid in large $60s a share for Kohl’s Corp (KSS.N). Kohl’s had beforehand turned down buyout offers in February. read through far more

Ted Baker and Sycamore declined Reuters requests for a remark.

Ted Baker’s shares shut up 8.88% on Thursday at 98.75 pence, giving the business a whole valuation of 182.3 million pounds ($239.65 million), Reuters calculations centered on Refinitiv Eikon details confirmed.

In February, Ted Baker stated it is “cautiously optimistic” about the outlook for the present-day year just after a 35% 12 months-on-12 months soar in sales in the fourth quarter, a time period when pandemic-similar constraints had been nonetheless in location. go through a lot more

($1 = .7607 pounds)

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

Reporting by Akriti Sharma in Bengaluru Editing by Shailesh Kuber

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