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(Alliance News) - THG PLC on Friday said takeover talks with Apollo Global Management Inc have terminated.
The e-commerce platform said it became clear "there is no longer any merit in continuing to engage with Apollo".
Back in April, THG had said it received buyout interest from the US private equity firm. THG at the time noted that it is "a highly preliminary and non-binding indicative proposal", but did not disclose the terms of the proposal.
"The board remains fully confident in THG's strategic direction and long-term prospects as an independent company," Chair Charles Allen said.
THG shares were 10% lower at 67.21 pence each in London on Friday morning. They are down 40% over the past year and are well below their 2020 listing price of 500p.
By Tom Budszus, Alliance News reporter
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