Ted Baker PLC (LSE:TED), the fashion firm, is being sized up by Sycamore Partners Management as an acquisition target.
The private equity group responded to recent press speculation by confirming it is in the early stages of considering making a possible cash offer for Ted Baker. It added the usual caveat that there is no certainty it will decided to make an offer for the company.
Under City takeover rules, it has until 15 April to announce a firm intention to make an offer or walk away for at least six months (unless a rival bid emerges).
Shares in Ted Baker have halved since May 2021 but perked up yesterday afternoon, rising from 87.5p at noon to close at 98.75p after Sky News reported that the American private equity firm was running the rule over the retailer.
Ted Baker is currently valued at £182mln. Market rumours indicate Sycamore is considering pitching its offer at around £200mln.
Sycamore Partners said to weigh £200 million plus takeover bid for Ted Baker $TED, reveals Sky Newshttps://t.co/a787PnIPZh
— Ben Harrington (@bharringtonw11) March 17, 2022