THG Suitors Belerion, King Street Pull £2.1B Bid

By Najiyya Budaly (June 16, 2022, 12:12 PM BST) -- London-listed THG PLC's shares fell nearly 20% on Thursday after investment companies Belerion and King Street pulled their £2.1 billion ($2.6 billion) bid for the online beauty products retailer.

Belerion Capital Group Ltd. and King Street Capital Management LP said that they no longer intend to make an offer for THG, known as The Hut Group. The THG board confirmed in May that the investment firms had made a non-binding offer for the group at 170 pence per share, valuing the retailer at £2.1 billion.

THG, which sits on the London Stock Exchange's main market, saw an 18% drop in its...

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