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The Board of Ted Baker PLC ("Ted Baker" or the "Company") is pleased to provide an update on its formal sale process.
On 4 April 2022, the Company announced, in view of the interest expressed by potential offerors, and having consulted its major shareholders, it had decided to conduct an orderly process to establish whether there is a bidder prepared to offer a value that the Board considers attractive relative to the standalone prospects of Ted Baker as a listed company.
The Company has now received a number of non-binding proposals from potentially interested parties. The Board is inviting a focused selection of such parties to enter into a due diligence process under which the Company will provide information on its business to them pursuant to the terms of a non-disclosure agreement.
There can be no certainty that an offer will be made, nor as to the terms on which any offer will be made. Further announcements regarding the formal sale process will be made when appropriate.
Ted Baker plans to announce its results for the 52-week period ended 29 January 2022 and Q1 trading update on 26 May 2022.
The Board of Ted Baker reserves the right to alter or terminate the process at any time and in such cases will make an announcement as appropriate. The Board of Ted Baker also reserves the right to reject any approach or terminate discussions with any interested party at any time.
As previously communicated, the Panel has granted a dispensation from the requirements of Rules 2.4(a), 2.4(b) and 2.6(a) of the Code such that any interested party participating in the formal sale process will not be required to be publicly identified under Rules 2.4(a) or 2.4(b) and will not be subject to the 28-day deadline referred to in Rule 2.6(a) of the Code for so long as it is participating in the formal sale process.
Made a mistake with my stop loss at 1.45 on half my holdings. Still profit but will just keep positions as is. Quick questions re ted and Twitter. I have both. Any idea what the lead time from Twitter confirmation and it being paid out in accounts? And similarly do you think it will take a longer for the ted deal to finalise then Twitter post any deal being agreed?
I have no crystal ball but have been following for some time.If you look at my earlier comments towards the end of the week the price has been held down to below £1.50.I believe as I have stated before that I think the company could even go above the £1.80 I originally suggested as it nearly hit this price last year prior to the many poor announcements by the BOD and felt originally for them to look good they would want to show a significant increase in the offer to the price currently being traded.This would in my view if an offer had not been made this weekend would have continued to at least Thursday or Friday with the offer being announced on the 3rd of May,however as some news has leaked out thenthis could go up on Monday and the offers could come in by Thursday.Will be interesting to see if any leaks appear on Sunday
Just read that myself, so it looks like another one in the running, you would think this should rise Monday morning.
It looks very much like someone will buy this at what price is anyone's guess.
So how come all this news always comes out at weekend! Let’s hope it has a positive effect on the share price on Monday. This needs to be concluded with a satisfactory outcome for the shareholders NOT the directors !
I think some are trying to talk us into one when it could be avoided.Currently record employment.The real cost of living crisis minus petrol for the many has yet to hit as utility bills at the new rates with the exception of pre payment have yet to hit as well as those who moved when their energy companies went bust and for 80% between now and October the council tax rebate will most probaby take care of the increase as if the average increase is £700 per year half is £350 for six months but as it is summer the usage is most probably half that amount and from july the new NI rates will kick in
Problem is they are pointing towards a potential recession.
This share is this afternoon and for most of the day tries to keep moving up but then there are a series of sales mainly small that brings the price down ,as if someone is trying to keep the price below £1.50
All retailers shares are down today due to figures released today which really are false as the actual sales yeaer on year are up with a 20% increase on pre covid figures .Are only down against February this year and normally retailers do not compare month by month.This company I am sure will move closer to a deal this weekend and I think it will go up on Monday.
don't let them get your shares on the cheap. this is being manipulated down in a tree shake.
none of the big players are selling out in fact they are increasing long positions and decreasing shorts and buying more shares just read through the daily rns
It’s going south because fund managers don’t know weather to invest or not like most stocks on the ftse
We could do with a bit of news here so long as it is good news, it is slowly drifting south are the markets getting an inkling on something.
Calm before the storm...these thing take time with lawyers etc, expecting take out around the 180 level...
Unsure how to take the quietness this week.. I really thought there would have been more news on another bid or potential bidder/s
The price is not rising above 150p because there is still an element of uncertainty in that a deal may not be agreed. Once we have an RNS and it confirms a price has been accepted it will shoot to that price. Whether that's 170p or 200p+
If the RNs says best price was 160p and the board turned it down we could be set for a larges fall. Hence we are stuck in this range until further clarification. Don't forget market hates uncertainty and therefore will be priced accordingly.
Noggers I think your conservative estimate is probably about right, the SP action implies that the market doesn't expect a huge premium, recognising that retail is still far from out of the woods. The important question is what do the major holders (Tosca, Schroder, Thread and RK)want to do. As I have said here a few weeks ago(and despite the other estimates ), many of the shares are held at averages which would make a 140-160 takeout profitable. My best guess is that it will happen and the price will be no more than 10% above today's , hence the recent SP flatlining.
Wasn’t there 2 bids turned down with a third not disclosed in price? Reports saying £310m is the minimum price - would need another bidder to take the price higher - it was said the sale process may go into a second phase leaving the 2 preferred bidders indicating there may be more than 2 wanting to buy. £1.75-£2.00 maybe - but it’s all guesswork
It seems the market doesn't want to bring this much above the 150 mark, it very much looks like the second bid could have been around the 145 mark, i don't think sycamore will bid much above the 160 mark now, and if nobody else bids i don't know if the board will put it to investors or not, anyone else have thoughts what will happen.
I reckon the best offer will be £1.80 tops ( more or less 20% premium to current price), but I hope I am very wrong on this
As every day goes by and I look at the share movement I think that the deal is getting closer.Either it will come on Friday or early next week.As I said the other day I think the share price at the moment is odd as if they would like to show what premium the offer is to not only when first announced but also the closing price the day before the final offer is made.I still believe the offer will be in excess of £1.8 which would show a reasonable increase as to where the price is today
400k volume in one trade after hours. Big moves tommrow?
Barclays continue to reduce short position
The board have indicated they won’t accept a low ball offer - Sycamore may have no choice to offer higher. It really is guesswork and smoke n mirrors with predicting a take out price. Is £350m-£400m too high a valuation to buy this business. Who is the other interested party that could potentially increase the offer price
Ray supporting the Sycamore bid is hardly good news. It looks as though he wants out. Looking at the current price I doubt we will be getting more than 175 although I hope I'm wrong.