Ted Baker Share Discussion Threads

[john09] 21/3/2022 10:38

We haven’t received the bid yet!!

[john09] 21/3/2022 10:37

Don’t they ?

[babbler] 21/3/2022 10:34

weekend is a long time... People don't like holding over weekends these days.

[john09] 21/3/2022 10:19

Yes it should have been this price on Friday

[1nf3rn0] 21/3/2022 10:06

This is more like it. Was surprised by the muted response on Friday, although took full advantage with 2 top ups.

[allstar4eva] 21/3/2022 10:05

140 short term?

[john09] 21/3/2022 09:53

I’m glad I piled in at 115p that’s for sure

Too many companies having bids on the cheap . This bid hasn’t even been outed yet!

[w1ndjammer] 21/3/2022 07:35

simmsc

i could just as easily say that in Feb 2018 it was valued at £1.3 Billion

maybe someone can see that in the future value will be once again..........

WJ.

[scemer] 18/3/2022 23:56

Simmsc hindsight mate covid was pushed to kill us all nobody was looking to buy anything

[mcmather] 18/3/2022 19:38

Michael Knighton 1989...

[simmsc] 18/3/2022 19:08

In Jan 2020 (pre-covid) market cap was 100m. Today its at about 180m (already 80% more than pre-covid)


I doubt someone (at the moment) will be willing to pay a lot more. This will be an opportunistic bid to see if they can get it on the cheap.


If someone wanted this asset that much they would have bought it before covid at 100m.

[aringadingding] 18/3/2022 10:30

Conservative net income to be projected would be £40m. This is what they were achieving pre-pandemic (during which time the revenue growth rate shows what is actually achievable in terms of growth but hey).

PE of 15x and NI of £40m is £600m market cap. Divided by 186m shares is 323p/shre.

So if it was taken out today at 200p the gain to private equity buyer would be 200->323 BEFORE taking into consideration the leverage impacts that naturally come along with private equity. If you apply leverage to that kind of uplift you end up with... well you end up with the sort of return the private equity business model is based on.

(Again and to be honest, a £40m net income target would be considered disgracefully low ambition for the private equity world but anyway.)

The Rottweiler knows this. Sycamore know this. So the dynamic is totally between those two parties. G'won the Rottweiler.

[toffeeman] 18/3/2022 09:43

"Ted Baker confirms that it has not received any approach from Sycamore"

Of course it hasn't! - Sycamore can get all the info they need from the Rottweiler

[davwal] 18/3/2022 08:54

Quite a low key response from TED in the RNS, although it seems to indicate a willingness to listen. Certainly not putting the barricades up.

[edmondj] 18/3/2022 08:30

Toffeeman,

Yes, just some context for figuring it out. ;-)

[scemer] 18/3/2022 08:26

Yes their average probably more towards £2

[toffeeman] 18/3/2022 08:20

>> Edmond - yes but they now own 28% with the difference purchased at much much lower prices including the raise at 75p

[aringadingding] 18/3/2022 08:18

Yeah i was just able to buy more at 120! Very surprised by that

Interestingly tosca have 27%, so not enough such that they wld have to make a formal bid (30%) but enough for them to block another's bid as threshold is 75% unless i am mistaken

I am certain that this brand has mass international appeal and represents an ideal operating platform for private equity - heritage, appeal, price point and operations well run.

Seems like could be set to be a classic aquisition where in 5yrs there could be more value by not selling but hey it's a quick buck so why not

[edmondj] 18/3/2022 08:17

Toscafund bought 12% around 373p at end-2019:

[babbler] 18/3/2022 08:14

probably had limits set. 120 was resistance point. But yes offer needs to be higher for Tosca to part with their 27%

[toffeeman] 18/3/2022 08:14

I think the Rottweiler has paid an average of c£1.50 so he will want at least 200 to exit at a reasonable profit, - he may table a bid to push the sale price up.

[1nf3rn0] 18/3/2022 08:13

Don't understand people selling at this level with confirmed bid interest. It was over 140p just in November

[john09] 18/3/2022 08:13

Bought ay as I could get theres no way this is being sold for 115 p

[w1ndjammer] 18/3/2022 08:10

Great news, glad we have Tosca onboard they will ensure we get a fair deal

their average is well north of mine which is circa 80p

WJ.