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I don't think Tosca will step up, unless Sycamore are serious (which i don't think the are) they don't need to if Sycamore withdraws now it will be back to square one.
IMO if the markets had an inkling that sycamore were going to put another bid in, then i would think the share price would now be around the 135 mark not the 121 mark, just my opinion.
Expecting more action this week can see Tosca stepping up personally
Just been into my trading account and the bid price for Ted was 102 something wrong there.
Think you buy the dip they clearly in play....
your reason not THE reason, perhaps A reason, of course
Could be the dip that refreshes, imo, in play.
The reason the market does not like the RNS is that it missed announcing any of these bids last week.They really are quite poor and it has decided me that really as long as we get a decent offer I will accept as I do not think the BOD is working in our interests .
Thought the sp might be positive market doesn’t seem to like that rns
Apologies new investor
That is not good enough not giving shareholders a clue that a bid had come through, the share price went up to 137 the day the second bid came through, so the markets must have known about the bids but not the small shareholders, we are in the dark once again, we will only know when either the share goes up or down.
Tosca has been quietly loading up and increase their holding around c.29-30%. They wouldn't let go of Ted cheap, and neither would I!!
I think the low ball offer paves the way for Tosca to take out Ted on the cheap, probably between 165- 185.
Agree. BOD should have released an RNS for each offer.
Only finding out after the fact by SkyNews is rather poor management.
Well at least they are not accepting a low ball offer.
WADR Mary...I think you may be over-optimistic. The board aren't really in control here, Tosca, Thread.. et al have a near controlling interest and I have no doubt that Sycamore and the major holders are in tacit discussions. Those discussions will be about a takeout price that those holders will accept,and I guess sycamore have already got significant acceptances at or around the prices offered and with bids at 130 and 137.5 they are homing in on a takeout price between 140 and 150 at best. TBH this is a sideshow for Sycamore as they are also one of the prospective bidders for Boots at levels in the order of £7bill and IMV if they can't get this deal done at the levels I suggest they will walk. After all, there are a lot of other juicy deals to be done in UK retail.
Most odd.We were not told on the 18th of the 130p bid and quite amazing the second bid came in last Tuesday and we have had to wait for this RNS.I think it is highly likely that another offer will come in the next few days .I just hope they are quicker in their respnse.I am not happy with our BOD who allowed the share to get so low in the first place and now seem to be playing games to save their jobs
They can walk away immediately as TED released the details but I think they are just starting to dance.
A revised bid around 190p most likely, or a white knight appears.
Dyor
not sure what the rules are but i think they have another 4 weeks by which time they can make another offer or walk away for 6 months.
Sycamore, up the offer or walk away chastened? GLA
Ted Baker PLC
Response to press speculation
The Board of Ted Baker PLC ("Ted Baker" or the "Company") notes the recent press speculation and confirms that it has received two unsolicited non-binding proposals from Sycamore Partners Management L.P. ("Sycamore") in relation to a possible cash offer for the entire issued and to be issued ordinary share capital of the Company.
On 18 March 2022, Sycamore made a proposal (the "First Proposal") under which Sycamore would offer 130 pence for each Ted Baker share. Following the Ted Baker Board's rejection of the First Proposal, on 22 March 2022 Sycamore submitted a revised proposal (the "Second Proposal") under which Sycamore would offer 137.5 pence for each Ted Baker share, an increase of 5.8% on the First Proposal. The Board of Ted Baker has also rejected the Second Proposal.
The Board of Ted Baker carefully reviewed both of Sycamore's proposals with its advisers and concluded they significantly undervalued Ted Baker and failed to compensate shareholders for the significant upside that can be delivered by Ted Baker as a listed company. Ted Baker is a leading global brand with a strong future. The management actions taken over the last two years have put the business on a firm footing and it is now well on the way to recovery following a turbulent period. The Board is focused on delivering value for Ted Baker's shareholders well in excess of the price offered by Sycamore.
There can be no certainty that any firm offer for the Company will be made nor as to the terms on which any firm offer might be made. This announcement has been made without the consent of Sycamore.
https://www.londonstockexchange.com/news-article/TED/response-to-press-speculation/15385596
Not even worth a reply and how deluded are they :-)
Ted have turned a corner and don’t need to sell in any way shape or form.
I was looking for more thoughts about the offer
Sustain
Thanks for explanation really detailed
I have read them
Dear Sadanby001!
Everyone knows the 130, please read the posts below.
Looking on sky news twitter site £250 million offer in now
I think the offer will about 150 if rejected except sycamore to walk away let’s hope for some news soon