Ted Baker said on 28 March that it has received two unsolicited non-binding proposals from Sycamore Partners Management for a possible takeover of the clothing brand which it has rejected, saying they "significantly undervalued" the company.

Ted Baker said it received the proposals on March 18 and March 22 worth 130 pence and 137.5 pence, respectively. The latest offer values the company at £253.8m ($334.5m).