Ted Baker agrees takeover by US Reebok owner

Directors recommend 110p-a-share deal with ABG, which values the London-listed clothing firm at 211m

Ted Baker has agreed a cut-price 211m takeover by the US group that owns Reebok and a stake in David Beckham's clothing and merchandise empire.

The board of the retailer, which has more than 500 shops and concessions around the world, has recommended shareholders approve the buyout by Authentic Brands Group (ABG).