Ted Baker which operates 377 stores and concessions in the UK and overseas has stated that it has now rejected two proposals from Sycamore Partners, a US private equity firm, which is seeking to take over the business.
The fashion retailer’s board updated the stock exchange saying that its board had examined the proposals made with its advisors – an initial 130p and subsequent 137.5p per share – and had determined that these offers undervalued Ted Baker and failed to compensate shareholders for the significant upside that can be delivered by Ted Baker as a listed company. It also pointed out that the business is now on a firm footing and well on the way to recovery.
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