founder would back 3 billion bid?23 May 2022 14:12
Matt Moulding, the billionaire co-founder of THG, would be prepared to take his online beauty company private for £3bn, according to media reports.
THG, formerly known as The Hut Group, debuted on the London Stock Exchange in September 2020 but chief executive Moulding retains a controversial golden share, allowing him to veto any potential bid.
Last week, THG received a 170p per share offer from Belerion Capital and King Street Capital, valuing the business at around £2.1bn. THG rejected the "highly preliminary" approach, claiming it "significantly" undervalued the company and its future prospects.
Minutes before issuing that statement, however, Candy Ventures announced it was in the "very early stages" of considering its own possible offer. Candy Ventures is the investment vehicle of property tycoon Nick Candy.
(see more at today's news)