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

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March 17 (Reuters) – U.S. private fairness agency Sycamore Associates is weighing a takeover bid for the British trend retailer Ted Baker (TED.L), Sky News claimed on Thursday.

Sycamore was thinking of creating a official solution, the report said, incorporating that the equity business has hired financial investment financial institution Numis to advise on the possible present.

This will come after a Wall Road Journal report before this 7 days reported that Sycamore and Canada’s Hudson’s Bay program to bid in superior $60s a share for Kohl’s Corp (KSS.N). Kohl’s experienced earlier rejected buyout offers in February. study 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, giving the enterprise a total valuation of 182.3 million pounds ($239.65 million), Reuters calculations dependent on Refinitiv Eikon details confirmed.

In February, Ted Baker explained it is “cautiously optimistic” about the outlook for the present-day 12 months right after a 35% yr-on-calendar year leap in profits in the fourth quarter, a period when pandemic-connected limitations have been continue to in put. examine far more

($1 = .7607 lbs .)

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