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13 May

THG Walks Away From Acquisition Talks With Apollo Global

by Beautifaire101
Beauty, Featured
THG Walks Away From Acquisition Talks With Apollo Global
Online beauty retailer THG, formerly often known as The Hut Group, has walked away from acquisition talks with private equity firm Apollo Global Management Inc., the corporate said in a press release Friday. Shares of THG plunged 16.49 percent to 62.42 pence after the announcement was made. Last month THG revealed that Apollo Global had made a preliminary bid. THG on the time described Apollo’s bid to accumulate the whole issued share capital of the retailer as “highly preliminary” and nonbinding. Apollo had until Monday under U.K. takeover rules to make a firm offer or walk away, but THG Friday said that there was “not any merit” to further discussions with the private equity firm as its buyout proposal was based on “inadequate valuations.” “Consideration and...
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18 Apr

THG Losses Widen in Fiscal 2022 as Apollo Global

by Beautifaire101
Beauty, Featured
THG Walks Away From Acquisition Talks With Apollo Global
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...
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