THG shares rise on takeover move amid spate of private equity bids for UK firms
by Jasper Jolly from World news | The Guardian on (#6AW4W)
Weak sterling makes FTSE 250 firms ripe for takeovers' with John Wood Group and Network International also approached
The share price of the online retail tech company THG has surged after it received a takeover approach from the US investor Apollo, amid a spate of attempted private equity takeovers of mid-sized British companies.
THG's share price jumped by 34% on Monday morning to 88p, having reached 97p in earlier trading, after it revealed the approach in a statement to the stock market. It was valued at 860m on Friday before the offer was revealed.
Continue reading...