THE WHAT? THG has confirmed a non-binding acquisition proposal from private equity business Apollo Global Management, sending shares soaring as much as 47 percent.
THE DETAILS Apollo now has until 15th May to make a firm offer, according to a statement by THG.
Details of the initial proposal were not disclosed.
THE WHY? Beleaguered THG Group has had a difficult journey since it listed in 2020, culminating in the company announcing a strategic review of its loss-making businesses outside of its core beauty, nutrition and Ingenuity platforms.
THG has also forecast lower than expected profit in its full-year results to be reported next week.