{"id":201774,"date":"2022-03-28T18:01:14","date_gmt":"2022-03-28T17:01:14","guid":{"rendered":"https:\/\/www.theindustry.fashion\/?p=201774"},"modified":"2022-03-28T18:01:29","modified_gmt":"2022-03-28T17:01:29","slug":"ted-baker-rejects-250m-bid-from-private-equity-firm-sycamore","status":"publish","type":"post","link":"https:\/\/www.theindustry.fashion\/ted-baker-rejects-250m-bid-from-private-equity-firm-sycamore\/","title":{"rendered":"Ted Baker rejects \u00a3250m bid from private equity firm Sycamore"},"content":{"rendered":"<p><strong><a href=\"https:\/\/www.theindustry.fashion\/the_directory\/ted-baker\/\"><span style=\"color: #ff0000;\">Ted Baker<\/span><\/a> has rejected the approaches of US private equity giant Sycamore, as it backed its strategy to bounce back from the pandemic over the offer on the table.<\/strong><!--more--><\/p>\n<p>The retailer said it <strong>rejected an\u00a0unsolicited 137.5p-per-share bid last Tuesday<\/strong>, just days after it had sent a declined a 130p-per-share bid.<\/p>\n<p>The company said: \u201cThe board of Ted Baker carefully reviewed both of Sycamore\u2019s proposals with its advisers and concluded they significantly undervalued Ted Baker and <strong>failed to compensate shareholders for the significant upside that can be delivered by Ted Baker as a listed company.<\/strong><\/p>\n<p>\u201cTed Baker is a leading global brand with a strong future. The management actions taken over the last two years have put the business on a firm footing and it is now well on the way to recovery following a turbulent period. <strong>The board is focused on delivering value for Ted Baker\u2019s shareholders well in excess of the price offered by Sycamore.<\/strong>\u201d<\/p>\n<p>The company was hammered by the pandemic, but it had also gone into COVID-19 in a weak spot following years of decline. It subsequently axed hundreds of jobs and raised \u00a3100 million to shore up its balance sheet.<\/p>\n<div>\n<p>Notably, Founder and Chief Executive Officer Ray Kelvin recently stepped away from his position after accusations of inappropriate behaviour. Kelvin is still a major shareholder in the business.<\/p>\n<p>Kelvin founded the business 30 years ago specialising in men's shirts and named it after his alter ego. It went on to become a global fashion and lifestyle brand offering menswear, womenswear, childrenswear, homewares, fragrance and watches among other categories, and was floated in 1997.<\/p>\n<p>Hargreaves Lansdown equity analyst Laura Hoy said: \u201cIt\u2019s unsurprising that management\u2019s not keen to give up the reins after a few difficult years. We\u2019re finally starting to see some greens shoots from the group\u2019s turnaround efforts now that formal occasions are back on the social calendar. However there\u2019s still a bumpy road ahead, with inflation weighing on customers\u2019 willingness to shell out for a new outfit.<\/p>\n<p>\u201cTed\u2019s prices are on the higher end of the spectrum, but not quite reaching into luxury, meaning its customers won\u2019t be immune to the cost-of-living squeeze and could start to slide down the value chain.\u201d<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p> [&hellip;]<\/p>\n","protected":false},"author":49,"featured_media":199340,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[10585,6,10494],"tags":[5707,11222,10248,23416,3788],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ted Baker rejects \u00a3250m bid from private equity firm Sycamore - TheIndustry.fashion<\/title>\n<meta name=\"description\" content=\"Ted Baker has rejected the approaches of US private equity giant Sycamore, as it backed its strategy to bounce back from the pandemic over the offer on\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.theindustry.fashion\/ted-baker-rejects-250m-bid-from-private-equity-firm-sycamore\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ted Baker rejects \u00a3250m bid from private equity firm Sycamore - TheIndustry.fashion\" \/>\n<meta property=\"og:description\" content=\"Ted Baker has rejected the approaches of US private equity giant Sycamore, as it backed its strategy to bounce back from the pandemic over the offer on\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.theindustry.fashion\/ted-baker-rejects-250m-bid-from-private-equity-firm-sycamore\/\" \/>\n<meta property=\"og:site_name\" content=\"TheIndustry.fashion\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/theindustryfashion\/\" \/>\n<meta property=\"article:published_time\" content=\"2022-03-28T17:01:14+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-03-28T17:01:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.theindustry.fashion\/wp-content\/uploads\/2022\/03\/TEDBAKER1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tom Shearsmith\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@theindustryfash\" \/>\n<meta name=\"twitter:site\" content=\"@theindustryfash\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tom Shearsmith\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.theindustry.fashion\/ted-baker-rejects-250m-bid-from-private-equity-firm-sycamore\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.theindustry.fashion\/ted-baker-rejects-250m-bid-from-private-equity-firm-sycamore\/\"},\"author\":{\"name\":\"Tom Shearsmith\",\"@id\":\"https:\/\/www.theindustry.fashion\/#\/schema\/person\/0ef585178e99d23ac0b525337547c9be\"},\"headline\":\"Ted Baker rejects \u00a3250m bid from private equity firm Sycamore\",\"datePublished\":\"2022-03-28T17:01:14+00:00\",\"dateModified\":\"2022-03-28T17:01:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.theindustry.fashion\/ted-baker-rejects-250m-bid-from-private-equity-firm-sycamore\/\"},\"wordCount\":385,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.theindustry.fashion\/#organization\"},\"keywords\":[\"Covid-19\",\"Finance\",\"Ray Kelvin\",\"Sycamore\",\"Ted Baker\"],\"articleSection\":[\"Finance\",\"News &amp; 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