Ted Baker says preferred bidder pulls out of takeover deal


Ted Baker
// Ted Baker sale thrown into doubt as preferred bidder backs away from deal
// Authentic Brands, the US-based firm that owns Reebok, was in pole position to acquire Ted Baker

Ted Baker’s proposed sale has been thrown into doubt after its preferred bidder, Reebok-owner Authentic Brands Group, pulled out of takeover talks.

The company said it was “informed by the preferred counterparty last night that it did not intend to proceed with an offer for the company”.

Ted Baker noted that the decision “was not linked to its due diligence review” of the business.

READ MORE: Reebok owner Authentic Brands Group races to seal £300m Ted Baker takeover

Last month, it was reported that Authentic Brands Group (ABG) is the preferred bidder for Ted Baker and is competing to finalise a £300 million takeover of the fashion retailer.

Authentic Brands, the US-based firm that owns Reebok, was in pole position.

ABG is run by the billionaire businessman Jamie Salter.

Ted Baker said it will now assess “a number” of other approaches it received from prospective buyers and “determine whether to proceed with any of those proposals”.

It warned there was “no certainty” that any offer would be made.

Evercore and Blackdown Partners are advising Ted Baker.

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