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

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

Sycamore was thinking about earning a official tactic, the report , introducing that the fairness company has employed expenditure bank Numis to suggest on the possible provide.

This will come after a Wall Avenue Journal report previously this week claimed that Sycamore and Canada’s Hudson’s Bay strategy to bid in large $60s a share for Kohl’s Corp (KSS.N). Kohl’s had beforehand rejected buyout provides in February. study additional

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Ted Baker and Sycamore declined Reuters requests for a remark.

Ted Baker’s shares closed up 8.88% on Thursday at 98.75 pence, providing the firm a complete valuation of 182.3 million lbs ($239.65 million), Reuters calculations dependent on Refinitiv Eikon facts confirmed.

In February, Ted Baker claimed it is “cautiously optimistic” about the outlook for the existing 12 months soon after a 35% yr-on-year jump in sales in the fourth quarter, a interval when pandemic-associated constraints were being even now in place. browse much more

($1 = .7607 pounds)

(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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