British fashion chain Ted Baker said on Tuesday its preferred bidder will not make a takeover offer and it would now determine whether to take the formal sale process ahead with other proposals received.
The London-listed group had put itself up for sale in April and said in late-May that it had picked a preferred suitor to take forward the process after a flurry of revised proposals.
Ted Baker, which has not named the preferred bidder, said the counterparty had indicated that its reason for not proceeding was not related to its due diligence review.
A media report last month had said Ted Baker's preferred bidder was Juicy Couture owner Authentic Brands.
