THG confirms takeover proposal from Apollo, shares surge
THG surged on Monday after the e-commerce company confirmed it has received a highly preliminary and non-binding indicative takeover proposal from private equity firm Apollo Global Management.
Personal Goods
15,664.80
12:54 24/12/24
0.02%
3.12
THG
45.32p
12:40 24/12/24
0.31%
0.14p
Responding to recent press speculation, THG said in a brief statement that there can be no certainty that any firm offer will be made.
A further announcement will be made if and when appropriate, it added.
Under takeover rules, Apollo has until 15 May to either announce a firm intention to make an offer or walk away.
At 1050 BST, the shares were up 40% at 92.60p.