STORY: Ted Baker shares jumped Monday (May 30), on reports that it was near to agreeing a takeover.

Juicy Couture-owner Authentic Brands is reportedly close to agreeing a deal valued at about $380 million.

Over the weekend, Sky News said Authentic was willing to pay around 150 pence per share.

At their peak in 2015, Ted Baker shares were worth almost 20 times that much.

The firm put itself up for sale in April, and last week said it had picked a preferred suitor.

Neither it nor Authentic had any immediate comments on the reports.

Last week, Ted Baker posted a reduced annual loss and pointed to robust sales ahead.

The firm said demand for office and leisure wear was rebounding.

Ted Baker shares rose as much as 3% on Monday morning following the takeover reports.