(Reuters) – Ted Baker shares rose 3.1% after Authentic Brands, the British fashion chain’s preferred bidding partner was reported to have claimed that Juicy Couture owners Authentic Brands could be the firm that agrees on a deal worth 300 million pounds ($379.35million).

Ted Baker offered itself to be sold in April. After a series of revisions, last week Ted Baker announced that it had chosen a preferred bidder.

Sky News reported Saturday that Authentic Brands had indicated its willingness to pay over 150 pence per shares for the company. Ted Baker’s shares were worth 2,972 pence each at their peak price in 2015.

Reuters did not receive a response from Ted Baker or Authentic Brands immediately.

Ted Baker is well known for making quirky, tailored suits and shirts. Before he launched the sale, Sycamore had offered several bids to Ted Baker.

Ted Baker, who posted an annual loss of less than expected last week, pointed to strong sales over the next few months due to rebounding demand for leisure and office wear.

($1 = 0.7908 pounds)