Given the double dose of decent news, it was surprising not to see the share price open a lot higher.
THG PLC (LSE:THG), the online retailer, announced that its founder and boss, Matt Moulding, has given up his much-criticised right to veto hostile bid approaches.
That in turn put the business, which recently was in bid talks with private equity group Apollo, firmly in play.
In the same announcement, released ahead of the company’s annual meeting, investors were told THG’s second-quarter operational and financial performance had been strong.
Adjusted earnings (EBITDA) are expected to be £44mln to £47mln for the first half. Guidance for the year remained unchanged. The nutrition business had a ‘particularly strong’ start to the year, investors were told.
THG shares opened 3% higher at 75p.