17th Apr 2023 10:54
(Alliance News) - THG PLC shares jumped on Monday, after it said it has received a buyout proposal from Apollo Global Management Inc.
Shares in the Manchester Airport-headquartered e-commerce retail company surged 42% to 94.17 pence each in London on Monday morning.
THG said that it is "a highly preliminary and non-binding indicative proposal", but did not disclose the terms of the proposal.
Apollo now is required to announce its intention to make an offer or walk away by May 15.
"There can be no certainty that any firm offer will be made. A further announcement will be made if and when appropriate," THG added.
By Sophie Rose; Alliance News reporter
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