US financial investor Sycamore Partners Management LP officially responded to press reports on Friday that it was considering taking over British clothing retailer Ted Baker Plc. “The company confirms that it is in the early stages of considering a potential cash offer for Ted Baker,” the investment firm said in a statement. However, there is “no certainty that an offer will ultimately be made or on what terms an offer could be made.” According to the applicable regulations, the company now has until April 15 to make a binding announcement as to whether or not it will make a takeover bid.
The board of directors of Ted Baker then stated in a statement that they had taken note of the considerations. So far, however, Sycamore Partners has not yet contacted the clothing supplier in this regard.
In view of its recent positive development, the company was self-confident: “Ted Baker continues to make good progress in its transformation and is emerging from the Covid pandemic as a stronger and more financially sustainable company,” says a statement. The board of directors also emphasized that Ted Baker has good prospects as a standalone company and announced that it would evaluate any takeover bid against the background of the “strong shareholder value creation” that the board of directors believes “can be achieved as a standalone company”.