Ted Baker has announced that its preferred investor will not proceed with its takeover bid, and that the British fashion chain will now consider other bids it received as part of the formal sell-off, with its share falling 19%.
The London-listed company put itself up for sale in April and said in late May that it had selected a preferred investor to proceed with the process following a series of revised proposals and rejecting Sycamore.
Ted Baker has not revealed who the investor is, but stressed that it has clarified (the investor) that the reason why the sale did not proceed is not related to due diligence control.
A report last month said the preferred buyer was the owner of Huicy Couture and Forever 21, Authentic Brands, and that she was willing to offer more than 150 pence for each share of Ted Baker.
Source: Capital
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