Breaking Stories

Dow Jones Newswires: THG shares fall after Belerion, Candy Venture pull takeover interests


By Ian Walker

Shares in THG PLC fell 19% on Thursday after both Belerion Capital Group Ltd. and Candy Ventures Sarl said that they didn’t plan to make offers for the London-listed online retailer.

Shares at 0940 GMT were down 19.67 pence at 85.18 pence, marking its largest one-day percentage fall since last October.

Neither Belerion nor Candy gave any explanation for their decisions. They both had until 1600 GMT Thursday to either make formal offers for THG or walk away under U.K. Takeover panel rules.

Earlier Thursday, THG–known as The Hut Group–said that recent takeover approaches undervalued the company, and it therefore hadn’t provided the parties due diligence access after consultation with its major shareholders.

Last month, THG said that it had rejected a 2.07 billion pound ($2.52 billion) proposal from a consortium led by Belerion Capital Group Ltd. and King Street Capital Management, LP.

The company said that it is “clearly aware” of the macroeconomic challenges, and continues to perform well and in line with the board’s expectations.

Write to Ian Walker at

Need to Know: In a tough post-Fed market, strategist finds opportunity knocking in a couple of this year’s hottest sectors

Previous article

‘The stock market is not going to zero’: How this individual investor with 70 years of experience is trading the bear market

Next article

You may also like


Leave a reply

Your email address will not be published. Required fields are marked *