THG confirms takeover proposal from Apollo, shares surge

By Michele Maatouk

Date: Monday 17 Apr 2023

(Sharecast News) - THG surged on Monday after the e-commerce company confirmed it has received a highly preliminary and non-binding indicative takeover proposal from private equity firm Apollo Global Management.
Responding to recent press speculation, THG said in a brief statement that there can be no certainty that any firm offer will be made.

A further announcement will be made if and when appropriate, it added.

Under takeover rules, Apollo has until 15 May to either announce a firm intention to make an offer or walk away.

At 1050 BST, the shares were up 40% at 92.60p.

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