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Change of heart: Ted Baker sold for £211 million

Reebok owner, Authentic Brands Group (ABG), is set to reveal a £200 million deal to buy London-based fashion brand Ted Baker – just two months after it withdrew an offer in June.

Citing sources, SkyNews reports the acquisition – if it proceeds – would see the price cut from ABG’s initial offer of £300 million in May. 

Ted Baker chose ABG as the preferred bidder for its exclusive negotiations in May. However, the US-headquartered multi-brand owner withdrew the following month. The London fashion brand later said the withdrawal “was not linked to its due diligence review of the company”. 

US-headquartered ABG was founded by billionaire Jamie Salter and owns Reebok, Aeropostale, Brooks Brothers, Forever 21, Nine West and Everlast, among others.

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