Source - Alliance News

-THG PLC on Thursday confirmed that it has received and rejected a third non-binding takeover proposal from Belerion Capital Group Ltd and King Street Capital Management LP, on the grounds that the offer ‘significantly undervalues’ the company.

The Belerion consortium made a proposal of 170 pence per share for the online beauty products platform, and has until 1700 BST on June 16 to make a firm offer or pull out.

Belerion is an e-commerce and technology focused private equity firm, while King Street Capital is an alternative asset manager.

Shares in THG closed 4.1% lower at 116.10 pence on Thursday in London, giving a market capitalisation of £1.42 billion.

Also on Thursday, Luxembourg-based venture capital firm Candy Ventures Sarl owned by Nick Candy said that it is in ‘very early stages’ of considering a possible offer for THG.

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