U.K. Designer Ted Baker Invites Bids as Interest Builds
- Ted Baker got third-party approach and Sycamore raised offer
- Confidential bids can be made to Evercore, Blackdown Partners
A Ted Baker Plc apparel shop in a concourse at London Bridge railway station in London.
Photographer: Chris J Ratcliffe/BloombergThis article is for subscribers only.
Ted Baker Plc is starting a formal sale process seeking higher bids after private equity fund Sycamore Partners Management LP improved its offer for a second time.
The U.K. fashion designer said Monday it has received unsolicited third party bid interest, and it’s inviting Sycamore to join the process. The stock was up 12% as of 9:46 a.m. in London, giving the company a market value of about 264 million pounds ($346 million).