Preliminary Tag

LONDON – Shares in online beauty retailer THG, formerly referred to as The Hut Group, were down greater than 16 percent on Tuesday after the corporate saw losses widen to 540 million kilos in fiscal 2022 resulting from inflationary pressures and write-downs. The shares dipped to 0.81 kilos in late morning trading after rallying on Monday following THG’s confirmation that personal equity firm Apollo Global Management Inc. had made a preliminary bid. THG described Apollo’s bid to amass all the issued share capital of THG as “highly preliminary” and non-binding Apollo must make a proposal by 5 p.m. on May 15, or walk away, in accordance with THG, which has struggled on many levels because it listed on the London Stock...