Ted Baker confirmed on Wednesday that US private equity firm Sycamore will participate in the formal sale process for the fashion retailer.
There can be no certainty that an offer will be made, nor as to the terms on which any offer will be made, the company said, adding that further announcements will be made “when appropriate”.
Ted Baker announced earlier this month that it was kicking off a formal sale process after receiving an improved takeover offer from US private equity firm Sycamore and following other unsolicited third party interest.
In March, the company said it had rejected two offers from Sycamore on the basis that they “significantly undervalued” the business.
At 0830 BST, the shares were up 3.9% at 153.56p.
