Ted Baker Turns Down Takeover Proposals from Sycamore

Ted Baker Turns Down Takeover Proposals from Sycamore
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Ted Baker Turns Down Takeover Proposals from Sycamore

Ted Baker Turns Down Takeover Proposals from Sycamore

Britain's Ted Baker said on Monday it had rejected two unsolicited non-binding proposals from private-equity firm Sycamore Partners Management for a possible cash offer for the fashion retailer.

Ted Baker said it had concluded the proposals from New York-based Sycamore significantly undervalued the company and failed to "compensate shareholders for the significant upside that can be delivered by Ted Baker as a listed company.”



Kering Reaches $860 Mln Paris Real Estate Deal with Ardian

The logo of fashion house Gucci is seen outside a store in Cannes, France, May 16, 2024. (Reuters)
The logo of fashion house Gucci is seen outside a store in Cannes, France, May 16, 2024. (Reuters)
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Kering Reaches $860 Mln Paris Real Estate Deal with Ardian

The logo of fashion house Gucci is seen outside a store in Cannes, France, May 16, 2024. (Reuters)
The logo of fashion house Gucci is seen outside a store in Cannes, France, May 16, 2024. (Reuters)

Gucci owner Kering has transferred three of its Paris real estate assets to a new joint venture with French private equity firm Ardian, freeing up 837 million euros ($860.27 million) in proceeds, the company announced on Wednesday.

The portfolio of the new entity, in which Kering will keep a 40% stake, includes a building on place Vendome, famous for its jewellery boutiques, and two others on avenue Montaigne, one of Paris's main high-end shopping streets.

The transaction is part of Kering's broader real estate strategy, aimed at securing control of high-profile retail locations while also raising cash.

The company - which also owns fashion labels Saint Laurent, Balenciaga and Bottega Veneta - issued a hefty profit warning in October. It is due to report full-year results on Feb. 11.