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

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

Sycamore was contemplating making a formal solution, the report stated, incorporating that the fairness company has employed financial commitment financial institution Numis to advise on the probable offer.

This arrives just after a Wall Street Journal report earlier this week explained that Sycamore and Canada’s Hudson’s Bay program to bid in higher $60s a share for Kohl’s Corp (KSS.N). Kohl’s had formerly rejected buyout gives in February. study additional

Ted Baker and Sycamore declined Reuters requests for a remark.

Ted Baker’s shares closed up 8.88% on Thursday at 98.75 pence, offering the firm a whole valuation of 182.3 million kilos ($239.65 million), Reuters calculations centered on Refinitiv Eikon information confirmed.

In February, Ted Baker explained it is “cautiously optimistic” about the outlook for the latest yr just after a 35% year-on-yr bounce in revenue in the fourth quarter, a period of time when pandemic-related constraints have been however in position. browse additional

($1 = .7607 kilos)

(This tale 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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