Ted Baker's board said Sycamore’s proposals “significantly undervalued” the high street brand, and on Monday urged shareholders to 'take no action at this time.'
Ted Baker described the two bids as “unsolicited” and “non-binding” and said the first proposal was made on March 18, followed by the second on March 22.
As reported, Sycamore officially revealed its interest in a potential deal with Ted Baker in a U.K. regulatory filing earlier this month. A voracious acquirer, Sycamore is also said to have recently shown interest in buying theU.K. rules require that Sycamore either move ahead with an offer or drop it and move on by April 15.
The company was founded by Ray Kelvin in 1988 in Glasgow, and from a base on the British high street developed a global presence. Kelvin resigned as chief executive officer in 2019 amid allegations of misconduct and inappropriate physical contact with staff., which had been reported by members of staff on the website Organise.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Softball Great Joan Joyce, Who Struck Out Ted Williams, Dies at 81Florida Atlantic softball coach Joan Joyce, the only coach in the program’s 28-year history whose numerous claims to fame included once striking out Ted Williams, has died
Read more »
Softball great Joan Joyce, fanned Ted Williams, dies at 81Florida Atlantic softball coach Joan Joyce, the only coach in the program’s 28-year history whose numerous claims to fame included once striking out Ted Williams, has died
Read more »
Browns hoping for Baker Mayfield ‘closure’ in awkward quarterback messIt’s only a matter of time before the Browns formally say goodbye to Baker Mayfield.
Read more »
After Will Smith slapped Chris Rock, the Oscars took a turnIt's always a bad sign when the Academy has to say it doesn't condone violence.
Read more »