Ted Baker is reportedly in advanced talks with Reebok owner Authentic Brands (ABG) about a potential £300m takeover of the high street fashion chain.
Last week, Ted Baker confirmed that US private equity firm Sycamore had dropped out of the process to buy the group. It said at the time that it had “selected a preferred counterparty to take forward into a process of confirmatory due diligence” but did not give a name.
According to Sky News, ABG is the preferred bidder for Ted Baker and has indicated that it is willing to pay more than 150p a share for the company.
One retail executive told Sky that ABG – which also owns most of David Beckham’s portfolio of branded products – was being advised by Bank of America on the talks. Although it is not in formal exclusivity, the executive added that a formal deal could be signed within weeks.
