(Corrects to say 98.75 ‘pence’, not ‘kilos’, in paragraph 5)
(Reuters) -U.S. non-public fairness agency Sycamore Companions is weighing a takeover bid for the British style retailer Ted Baker, Sky Information reported on Thursday.
Sycamore was contemplating making a proper method, the report stated bit.ly/3MW2uMy, including that the fairness agency has employed funding financial institution Numis to advise on the potential supply.
This comes after a Wall Road Journal report earlier this week stated that Sycamore and Canada’s Hudson’s Bay plan to bid in excessive $60s a share for Kohl’s Corp. Kohl’s had beforehand rejected buyout affords in February.
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 corporate a complete valuation of 182.3 million kilos ($239.65 million), Reuters calculations based mostly on Refinitiv Eikon information confirmed.
In February, Ted Baker stated it’s “cautiously optimistic” in regards to the outlook for the present 12 months after a 35% year-on-year bounce in gross sales within the fourth quarter, a interval when pandemic-related restrictions have been nonetheless in place.
($1 = 0.7607 kilos)
Reporting by Akriti Sharma in Bengaluru; Enhancing by Shailesh Kuber