Authentic Brands Group explores takeover bid for Ted Baker
Authentic Brands Group, owner of David Beckham, Forever 21 and Reebok, is exploring whether to make a formal offer for Ted Baker, Sky News reports.
The group is among several parties who have been in discussion with Ted Baker's financial advisers in recent weeks.
The newspaper revealed that the deadline for non-binding indicative offers for the company passed on Thursday, and that ABG was understood to be part of that process.
Last month Ted Baker rejected two bids from Sycamore Partners, the latter of which valued it at £254 million, saying it felt it was better positioned as a plc to bounce back from the effects of the pandemic. However Sycamore came back with a third bid and having received another unsolicited bid, the business formally put itself up for sale this month.
It has been said the board would only accept an offer in excess of £310 million.
Sky News said it was unclear this weekend whether any bid from ABG would be made alone or with a partner.
Read our timeline of the complete history of Ted Baker here.
