Private equity firm Sycamore weighs bid for fashion chain Ted Baker – Sky News
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March 17 (Reuters) – U.S. personal fairness business Sycamore Companions is weighing a takeover bid for the British style retailer Ted Baker (TED.L), Sky News documented on Thursday.
Sycamore was contemplating generating a official tactic, the report claimed, introducing that the fairness organization has employed investment decision lender Numis to suggest on the opportunity give.
This comes soon after a Wall Street Journal report previously this 7 days mentioned that Sycamore and Canada’s Hudson’s Bay prepare to bid in higher $60s a share for Kohl’s Corp (KSS.N). Kohl’s had earlier turned down buyout delivers in February. go through a lot more
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Ted Baker and Sycamore declined Reuters requests for a comment.
Ted Baker’s shares closed up 8.88% on Thursday at 98.75 pence, providing the organization a total valuation of 182.3 million lbs . ($239.65 million), Reuters calculations centered on Refinitiv Eikon knowledge confirmed.
In February, Ted Baker explained it is “cautiously optimistic” about the outlook for the existing year immediately after a 35% yr-on-calendar year jump in profits in the fourth quarter, a period when pandemic-linked limits have been even now in location. go through far more
($1 = .7607 lbs .)
(This tale corrects to say 98.75 ‘pence’, not ‘pounds’, in paragraph 5)
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Reporting by Akriti Sharma in Bengaluru Modifying by Shailesh Kuber
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