The US-based brand licensing empire which includes Reebok and a controlling stake in David Beckham’s consumer goods stable is exploring a takeover bid for Ted Baker, the London-listed fashion chain.
Sky News has learnt that Authentic Brands Group (ABG), which was recently valued at nearly $13bn (£10.1bn), is among several parties who have been in discussion with Ted Baker’s financial advisers in recent weeks.
City sources said this weekend that a deadline for non-binding indicative offers for the company passed on Thursday, and that ABG was understood to be part of that process.
ABG, which is run by the billionaire businessman Jamie Salter, is a global brand development and entertainment company which owns Sports Illustrated magazine, brands associated with Muhammad Ali and Shaquille O’Neal, the basketball legend, and fashion labels such as Juicy Couture.
Insiders said ABG was not certain to table a formal offer for Ted Baker, but that it was among a number of companies exploring whether to do so as part of a formal sale process which kicked off earlier this month.
Ted Baker has been put in play by a string of bid approaches – revealed by Sky News – from Sycamore Partners, an American private equity firm.
Sycamore has lodged three takeover proposals, the first two of which valued Ted Baker at 130p-a-share and 137.5p-a-share – equivalent to roughly £250m.
The value of the third offer was undisclosed, but the retailer has since confirmed Sycamore’s intention to participate in the formal auction.
It was unclear this weekend whether any bid from ABG, if it materialises, would be made alone or in conjunction with a partner, as was the case when it teamed up with JD Sports Fashion to try to acquire TopShop from the ruins of Sir Philip Green’s fashion group, Arcadia.
TopShop was eventually snapped up by ASOS, the online clothing retailer.
ABG’s valuation has soared in recent years, after reportedly selling a controlling stake in August 2019 to a…
Source : skynews
