(Finance) – Ted Bakera British company active in retail clothing, has initiated a formal sales process after receiving a further purchase proposal from Sycamore, a US private equity firm. This is Sycamore’s third offer, with the first two being rejected as unsatisfactory (the last valued at £ 253.8 million). Ted Baker disclosed that he also received other unsolicited non-binding expressions of interest from other subjects.
In consideration of the interest shown by potential bidders, and after hearing its major shareholders, the board decided to conduct an orderly process to determine if there is a bidder willing to offer value that the board finds attractive compared to Ted Baker’s standalone prospects as a listed company. In this context, the company agreed with the UK Takeover Panel that any discussion in relation to an offer for the company should take place in the context of a formal sales process.
Take flight Ted Bakerwhich stood at 144.2, with a 12.48% increase. Operationally, expectations are for a continuation of the day in a positive sense with resistance seen in the 150.3 area and later at 168.4. Support at 132.2.