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Share Price: 61.35

Bid: 61.00

Ask: 61.45

Change: -1.40 (-2.23%)

Spread: 0.45 (0.738%)

Open: 62.00

High: 63.45

Low: 60.25

Prev. Close: 62.75

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THG shares tumble as takeover talks with Apollo Global Management end

Fri, 12th May 2023 09:00

(Alliance News) - THG PLC on Friday said takeover talks with Apollo Global Management Inc have terminated.

The e-commerce platform said it became clear "there is no longer any merit in continuing to engage with Apollo".

Back in April, THG had said it received buyout interest from the US private equity firm. THG at the time noted that it is "a highly preliminary and non-binding indicative proposal", but did not disclose the terms of the proposal.

"The board remains fully confident in THG's strategic direction and long-term prospects as an independent company," Chair Charles Allen said.

THG shares were 10% lower at 67.21 pence each in London on Friday morning. They are down 40% over the past year and are well below their 2020 listing price of 500p.

By Tom Budszus, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

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20 May 2022 12:13

LONDON MARKET MIDDAY: China rate cut brightens end-of-week trading

(Alliance News) - The FTSE 100 in London was on course to post a weekly gain as the end of a rocky week saw sentiment perk up on news of an interest rate cut in China, contrasting with hawkish rhetoric - and rate hikes - from central banks in the US and Europe over recent months.

20 May 2022 07:58

THG shares surge as retailer rejects third takeover offer

(Sharecast News) - Shares in e-commerce retailer THG surged early on Friday after the firm rejected a third takeover offer from Belerion Capital and King Street Capital Management a day earlier and news broke that property investor Nick Candy was also mulling a possible bid.

19 May 2022 19:37

TOP NEWS: THG rejects Belerion takeover offer as Candy shows interest

(Alliance News) -THG PLC on Thursday confirmed that it has received and rejected a third non-binding takeover proposal from Belerion Capital Group Ltd and King Street Capital Management LP, on the grounds that the offer "significantly undervalues" the company.

21 Apr 2022 17:02

LONDON MARKET CLOSE: Stocks mixed as miners restrain FTSE 100

(Alliance News) - Stocks in London ended mixed on Thursday with heavyweight miners weighing on the FTSE 100 after disappointing quarterly production figures, while in New York, Tesla continued to go from strength to strength.

21 Apr 2022 12:13

LONDON MARKET MIDDAY: FTSE 100 limps behind as downbeat miners weigh

(Alliance News) - The FTSE 100 was the session's laggard on Thursday, with the heady ascents posted elsewhere in Europe out of reach in London due to the index's heavyweight mining sector, which dragged following some underwhelming production reports.

21 Apr 2022 10:56

TOP NEWS: THG annual earnings rise as waves away takeover tilts

(Alliance News) - THG PLC on Thursday reported annual earnings growth, a decent start to 2022 and added that it has received "numerous" takeover proposals in recent weeks.

21 Apr 2022 08:39

LONDON MARKET OPEN: FTSE 100 left out of Europe rally as miners drag

(Alliance News) - The FTSE 100 in London failed to get off to the positive start seen elsewhere in Europe on Thursday as the index was bogged down by some disappointing production updates from its heavyweight mining sector.

21 Apr 2022 08:27

THG rejects 'unacceptable' bid approaches as profits rise

(Sharecast News) - UK online beauty and nutrition products seller THG on Thursday said it had rejected "numerous" takeover approaches and warned of flat annual earnings due to inflationary pressures.

21 Apr 2022 08:12

LONDON BRIEFING: THG says rejected "numerous" recent takeover offers

(Alliance News) - THG on Thursday said it has received indicative takeover proposals from "numerous parties" in recent weeks, but rejected them all on the grounds the offers failed to reflect the full value of the firm.

21 Apr 2022 07:50

LONDON MARKET PRE-OPEN: Rank cuts outlook; Rentokil counters inflation

(Alliance News) - Stocks in London are set to extend recent gains on Thursday as investors look ahead to remarks from central banking figures.

17 Apr 2022 17:10

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22 Mar 2022 09:39

IN BRIEF: THG founder gives up executive chair role but remains CEO

THG PLC - Manchester-based online beauty products platform - Founder Matthew Moulding relinquishes his position as executive chair but remains chief executive officer. THG appoints Charles Allen as independent non-executive chair, starting immediately. Allen currently is chair of construction firm Balfour Beatty PLC and previously was CEO of television companies ITV PLC and Granada Group PLC.

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22 Mar 2022 08:47

THG names Charles Allen as chairman

(Sharecast News) - British retailer The Hut Group has tapped Charles Allen to take over as independent non-executive chairman, with immediate effect.

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