With Sycamore Partners Management having withdrawn its interest in acquiring Ted Baker, the retailer has confirmed that another party has become the preferred bidder. The Ted Baker board remains close-lipped about the identity of the party and stressed that there was no certainty that an offer would be made or completed. The board had rejected an offer from Sycamore of 137.5p per share which valued the business at £254 million.
Authentic Brands Group is understood to have entered negotiations.
Further news is expected in the next two weeks.