Sir Terry Leahy’s investment firm Clayton Dubilier & Rice (CD&R) is plotting a £2bn bid to buy up fashion chain New Look.
Sir Terry, the former Tesco boss, is said to be in talks with Chinese group CDH for a joint offer to snap up the chain.
The chain’s current owners are founder Tom Singh and private equity firms Apax and Permira.
Back in February, the chain was reportedly working on a float. However, following acquisition interests from Chinese firms, the plans were cancelled.
New Look has over 800 stores in 21 countries and is the UK’s second-biggest women’s value clothing and accessories retailer.
CD&R is a US private equity firm that owns 60% of retailer B&M.
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