Ted Baker: Fashion retailer receives ‘a number’ of bids from suitors as sale hots up
Ted Baker confirmed it has been the recipient of a number of bids from suitors hoping to snap up the high street fashion retailer.
The clothes seller entered into a formal sales process earlier this month, after being wooed several times by US private equity firm Sycamore.
It had previously revealed it had been approached with interest by another unnamed third party.
In an update to the London Stock Exchange on Wednesday, Ted Baker said it “has now received a number of non-binding proposals from potentially interested parties.”
A “focused selection of such parties” were invited to enter a due diligence process, where the company will offer more information about the business to them, under a non-disclosure agreement.
The firm was clear that there could be “no certainty” that an offer would be made or “as to the terms on which any offer will be made”.
Authentic Brands Group, the management company behind fashion firms Reebok and Forever 21, was reported to be mulling a bid for Ted Baker.
City sources told Sky News the group was one of several parties who could make a play for the London-listed fashion chain, even though it is still not certain, CityA.M. reported earlier this week.
Ted Baker’s share price was lifted more than three per cent on Wednesday afternoon.