×
2 366
Fashion Jobs
NORDSTROM
Assistant Manager - Asset Protection - Eaton Center
CDI · Toronto
NORDSTROM
Asset Protection - Agent - Heartland Town Center Rack
CDI · Mississauga
LULULEMON
Assistant Manager, Operations | Upper Canada Mall
CDI · Newmarket
AESOP
Part-Time Retail Consultant | Aesop Kitsilano
CDI · Vancouver
LULULEMON
Assistant Manager, Operations | Bower Place
CDI · Red Deer
SHISEIDO
Director, Human Resources
CDI · Markham
MICHAEL KORS
ft Sales Supervisor
CDI · Mississauga
ADIDAS
Senior Finance Manager, Commercial
CDI · Vaughan
ADIDAS
Director of Finance - Adidas
CDI · Vaughan
MICHAEL KORS
Full Time Sales Supervisor - Scarborough Town Centre
CDI · Toronto
LULULEMON
Assistant Manager, Operations | Scarborough Town Centre
CDI · Toronto
LULULEMON
Assistant Manager, Operations | Lululemon Abbotsford
CDI · Abbotsford
NORDSTROM
Asset Protection - Security Ambassador - Pacific Centre
CDI · Vancouver
NORDSTROM
Asset Protection - Agent - Pacific Centre
CDI · Vancouver
AESOP
Retail Consultant | Eaton Centre
CDI · Toronto
TJX CANADA
Loss Prevention Customer Service Agent - Thunder Bay
CDI · Thunder Bay
WINNERS
Jewelry Consultant, Full Time, Winners & Homesense, Coquitlam
CDI · Coquitlam
MICHAEL KORS
Superviseur Des Ventes Dix30/Sales Supervisor ft- Dix30
CDI · Brossard
ON RUNNING
Sales Representative
CDI · VANCOUVER
TAPESTRY
Sales (Bilingual) Supervisor i
CDI · Halton Hills
MICHAEL KORS
Gestionnaire Des Ressources Humaines – Canada/Human Resources Manager – Canada
CDI · Montreal
ESTEE LAUDER
Associate Consultant - Clinique - Toronto, on
CDI · Toronto
Published
Mar 27, 2022
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Sycamore makes £250m bid for Ted Baker - report

Published
Mar 27, 2022

​US private equity group Sycamore Partners has reportedly made a concrete offer for Ted Baker with news on Sunday that a bid has been tabled in the past few days. 


Reuters



That's according to Sky News, which said Sycamore has launched a 130p per share offer, valuing the business at £250 million. That's higher than the lows that the company reach in recent months, but well down from the £1.4 billion it was worth several years ago.

The shares had been as low as just over 80p back in February, but with bid rumours circulating, they closed at almost 126p on Friday. The Sycamore offer means they’re likely to rise first thing on Monday to 130p and possibly beyond.

A higher share price would suggest that investors currently think Sycamore will have to come up with more money to win the prize and the Sky News report also quoted City sources saying it was very unlikely that the board would back any bid at the current level.

It's not known, however, whether the offer has been formally rejected by the Ted Baker board.

Assuming it is rejected, under UK Takeover Panel rules, the private equity group will need to raise its bid before a mid-April deadline or walk away. There remains time for other potential bidders to emerge though.

In response to the original rumours earlier this month, Ted Baker had said it “continues to make good progress with its transformation and the company is emerging from Covid as a stronger and more financially sustainable business. The board is confident in the company's independent prospects and would evaluate any offer for the company against the strong shareholder value creation that it believes can be delivered as a standalone company”.

Ted Baker suffered a major fall from grace in recent years with issues both of its own making and caused by the pandemic. Once a high-flyer, it’s nonetheless a major name in UK fashion retailing and also has a presence globally. The company's current leadership clearly believes it can win back some of its prominence. 

But the decision won't only be down to its CEO and board with founder Ray Kelvin still likely to be an influential voice as he retains a significant stake in the business.

Copyright © 2022 FashionNetwork.com All rights reserved.