19th May 2022 19:37
(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.
The Belerion consortium made a proposal of 170 pence per share for the online beauty products platform, and has until 1700 BST on June 16 to make a firm offer or pull out.
Belerion is an e-commerce and technology focused private equity firm, while King Street Capital is an alternative asset manager.
Shares in THG closed 4.1% lower at 116.10 pence on Thursday in London, giving a market capitalisation of GBP1.42 billion.
Also on Thursday, Luxembourg-based venture capital firm Candy Ventures Sarl owned by Nick Candy said that it is in "very early stages" of considering a possible offer for THG.
By Dayo Laniyan; [email protected]
Copyright 2022 Alliance News Limited. All Rights Reserved.