THG shares soar amid prospect of bidding war for online retailer
by Mark Sweney from World news | The Guardian on (#5ZESY)
Firm has had three recent takeover approaches, while property tycoon Nick Candy may also make move
Shares in THG soared as much as a quarter in early trading on Friday as investors cheered the prospect of a multibillion-pound bidding war for the online retailer, including a possible offer from property tycoon Nick Candy.
The market value of THG, the online health and beauty retailer formerly known as the Hut Group, leapt by almost 400m to 1.8bn after the company confirmed there had been three takeover approaches in recent weeks.
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