THG Shares Soar After Retailer Confirms Apollo Takeover Bid
- New York firm has until May 15 to make a formal offer
- THG has seen value decline since floating business in 2020
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THG Plc shares soared as much as 47% after the embattled UK online retailer said it received a non-binding acquisition proposal from Apollo Global Management Inc.
The New York-based private equity business now has until May 15 to decide whether to make a firm offer, THG said in a statement Monday. The company did not disclose the value of Apollo’s initial proposal.