(Reuters) Shares of THG rose more than 25% on Friday after news emerged of buyout interest from property entrepreneur Nick Candy.
The proposed offer represented a 46% premium to the stock’s closing price of 116 pence on Thursday. The closing gave THG a valuation of 1.42 billion pounds or $1.77 billion.
The offer by Candy came after THG rejected another offer by two investment groups, Belerion Capital and King Street Capital Management. The groups offered 170 pence per share, which THG said it undervalued the company.
Candy ventures said it was still in the early stages of making a THG offer.
THG: LON is up 25.81%.
