Property tycoon Nick Candy is considering a bid for struggling online retailer THG, which said on Thursday night it had rejected a £2billion offer from a separate group of investors.
THG shares previously closed at 116p, down more than 80% since last September after Matt Molding’s company failed to reassure City investors of the value of its Ingenuity IT platform.
In an update to investors after the close of trading, THG confirmed it had received a “third unsolicited offer” at 170p per share from Belerion Capital and King Street Capital to acquire the company.
The offer was rejected by THG’s board after deliberations with advisers as it “significantly undervalued the company”.
Separately, Mr. Candy’s company, Candy Ventures Sarl, released a statement saying it was in the “very early stages” of considering an offer for THG.
THG declined to comment on Candy’s statement.
Last month, the company revealed that it had been approached by bidders about a possible takeover.
She owns websites such as Lookfantastic and Myprotein and seeks to develop her ingenuity.
THG was touted as a major new UK tech player when it went public in September 2020, but the shares then fell.
Mr Molding has previously said the float was a mistake and sought to blame short sellers for the poor performance of THG shares.
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Source: www.telegraph.co.uk
This notice was published: 2022-05-19 20:19:57
