March 17 (Reuters) – U.S. non-public fairness 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 of building a formal method, the report stated, introducing that the fairness company has employed financial investment bank Numis to recommend on the possible present.
This will come soon after a Wall Road Journal report previously this week claimed that Sycamore and Canada’s Hudson’s Bay strategy to bid in high $60s a share for Kohl’s Corp (KSS.N). Kohl’s experienced earlier rejected buyout offers in February. go through 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, giving the company a total valuation of 182.3 million lbs ($239.65 million), Reuters calculations centered on Refinitiv Eikon information showed.
In February, Ted Baker mentioned it is “cautiously optimistic” about the outlook for the recent calendar year after a 35% 12 months-on-year jump in income in the fourth quarter, a period when pandemic-associated restrictions have been even now in put. read through a lot more
($1 = .7607 kilos)
(This tale corrects to say 98.75 ‘pence’, not ‘pounds’, in paragraph 5)
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Reporting by Akriti Sharma in Bengaluru Editing by Shailesh Kuber
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