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Ted Baker PLC - London-based clothing retailer - Confirms that New York-based private equity firm Sycamore Partners Management will participate in its formal sales process, which was announced at the beginning of the month. This means that Sycamore is no longer bound by Friday's deadline to make a firm intention of an offer or walk away. On April 4, Ted Baker said it had already rejected two cash takeover proposals from Sycamore and had received an improved proposal from the private equity firm, along with unsolicited third party bid interest which prompted the formal sales process.
Current stock price: 152.60 pence, up 3.3% on Wednesday
12-month change: up 7.5%
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