By Ian Walker
Ted Baker PLC said Wednesday that it has now received a number of non-binding takeover proposals and has invited some of the parties to enter into a due diligence process.
The clothing brand, which started the formal sale process on April 4, said that there is no certainty that any formal proposal will be made, or which terms will be offered.
The company said earlier this month that it had received an improved takeover proposal from Sycamore Partners Management LP as well as other unsolicited third-party bid interest, and had started a formal sale process.
Ted Baker had previously rejected an acquisition proposal of 137.5 pence a share from Sycamore, which would value the company at 253.8 million pounds ($319.1 million). Prior to that, Ted Baker had received a proposal of 130 pence a share from the US private equity firm.
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Sycamore Partners said on April 13 that it would participate in the formal sale process for Ted Baker.
Write to Ian Walker at [email protected]
Credit: www.marketwatch.com /