Juicy Couture and Forever 21 owner Authentic Brands will buy Ted Baker in a deal worth roughly £211 million, the companies said on Tuesday, ending months of speculation on the fate of the British fashion chain.

Ted Baker had put itself up for sale in April and picked a preferred suitor in the following month to take the process forward.

However, the suitor - reported to have been Authentic Brands - in June decided not to make an offer, forcing Ted Baker to consider other options.

Tuesday's offer price of 110 pence per Ted Baker share, recommended by the London-listed chain's board, is at a premium of about 18.2% to the last close, and will not be revised until a rival suitor emerged, the companies said.