Takeover talk surrounding Superdry has grown even louder after a new investor began stakebuilding in the embattled fashion brand in the belief that it could become a target.
A Norwegian-based alternative investment fund has bought a 5.3 per cent stake in the Cheltenham-based retailer, according to regulatory filings. It is understood that First Seagull considers Superdry to be ripe for a bid after a series of profit warnings over the past year drove down its share price. Sycamore Partners, an American private equity company, and Authentic Brands Group, which owns Ted Baker and Forever 21, are said to have Superdry on their radars.
The news prompted an immediate jump in Superdry shares of about a fifth and they closed up 7.7 per cent, or 1½p,