RE: Topped up...27 Jul 2022 13:21
Obviously softbank likes THG and have 8% now why would they want to pay 1.6billion dollars for 19.99% just in thg ingenuity when the whole company is valued under 1billion, I would not be surprised they come out with a bid, it makes sense
Sharecast News) - THG was under the cosh on Tuesday after the ecommerce group said that it and SoftBank have called off a long-standing agreement for the Japanese conglomerate to buy a stake in the company for £1.1bn.
Last year, SB Management- a division of Softbank - invested $730m in THG through a placing, giving it a stake of around 8%. At the same time, THG agreed to grant SB a call option to buy a 19.9% stake in THG Ingenuity, the technology division, for $1.6bn.
However, THG said on Tuesday that the agreement has been terminated by mutual agreement "in light of global macroeconomic conditions".
At 1550 BST, the shares were down 4%