Authentic Brands Group Inc. entered into an agreement to acquire Ted Baker Plc (LSE:TED) for approximately £200 million on August 16, 2022. Under the terms, Authentic Brands Group Inc. will pay 110 pence in cash for each Ted Baker Shares. The cash consideration payable to Ted Baker Shareholders by Authentic Brands Group Inc. under the terms of the Acquisition will be financed from ABG's existing cash resources. Accordingly, the directors of Ted Baker intend unanimously to recommend that Ted Baker Shareholders vote in favor of the Scheme at the Court Meeting. Transaction is subject to approval of UK Competition and Markets Authority and court approval. As of September 29, 2022 the court has approved the deal. As of September 2, 2022, the scheme is expected to become effective during the fourth quarter of 2022. As of October 19, 2022 It is expected that, subject to the Scheme becoming Effective on October 21, 2022 and sting of Ted Baker Shares on the Official List will be cancelled and that Ted Baker Shares will cease to be admitted to trading on the London Stock Exchange's Main Market for listed securities with effect from 8.00 a.m. on October 24, 2022.

Eamon Brabazon, Joshua Maguire and Geoff Iles of BofA Merrill Lynch International Limited. acted as Financial Adviser to Authentic Brands Group Inc. Ed Banks and Julien Baril of Evercore Partners of International LLP acted as financial advisor to Ted Baker. Peter Tracey and Tom Fyson of Blackdown Partners Limited acted as financial advisor to Ted Baker. Roland Turnill, Richard Hilton, Ed Fife, Claire Jeffs, Phil Linnard, Charles Osborne, Duncan Blaikie and Simon Bartle of Slaughter and May acted as legal advisor to Authentic Brands Group Inc. and Freshfields Bruckhaus Deringer LLP acted as legal advisor to Ted Baker Plc.

Authentic Brands Group Inc. completed the acquisition of Ted Baker Plc (LSE:TED) on October 21, 2022.