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.