US-based private equity firm Sycamore Partners has confirmed it is in the “early stages of considering” a bid for embattled fashion retailer Ted Baker. 

Ted Baker New York

Ted Baker’s share price surged following interest from Sycamore Partners

Under the Takeover Rules, Sycamore Partners has 28 days to firm up a bid for Ted Baker or step away. The company said today “there can be no certainty that an offer will ultimately be made nor as to the terms on which any offer may be made”.

Sycamore made the announcement following media speculation reported by Sky News. 

Ted Baker has a market capitalisation of £170m, with shares surging 8% at the close of trading on Thursday following interest from the private equity firm. 

Sycamore specialises in retail investments and was previously the owner of higher-end brands such as Kurt Geiger. 

In the same week as being linked with Ted Baker, Sycamore was also mentioned in dispatches concerning a $9bn (£6.8bn) takeover of US department store chain Kohl’s. 

It has also been mooted as a potential suitor for Boots, the UK’s largest chain of high street chemists. 

Sycamore has hired investment bank Numis as its adviser on any Ted Baker bid.

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