THG ends takeover talks with Apollo claiming offer lacks ‘merit’

Matt Moulding, The Hut Group

Source: Peter Searle

THG has terminated all discussions about a possible takeover with private equity firm Apollo Global Management, claiming there was “no longer any merit in continuing to engage”.

The online group had earlier announced that it had received “a highly preliminary and non-binding indicative proposal” for a buyout from Apollo and had given the firm until May 15 to make an offer under the rules of the board.

THG said in a statement: “Consideration and rejection of the indicative proposal has been on a basis consistent with all previous offers for the company, some a matter of public record, which were also rejected based upon inadequate valuations and the nature of those offer structures.”

Subscription content

Please sign in now if you have a subscription or are already registered with us.

Retail Week

Register for free to continue reading

Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.

Register today for a taste of our high-quality intelligence and enjoy:

  • Two free article views per calendar month on Retail-Week.com
  • Detailed analysis of current trends and events 
  • Exclusive newsletters
  • In-depth reports, videos, interviews and much more

Discover Retail Week register now

Please note, if you have recently purchased a subscription, it may take a few moments before your account is updated.