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

Sign up now for Absolutely free unrestricted access to

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)

Sign-up now for No cost endless obtain to

Reporting by Akriti Sharma in Bengaluru Editing by Shailesh Kuber

Our Standards: The Thomson Reuters Have faith in Ideas.