Nick Candy, the property tycoon married to actress Holly Valance, has revealed that he is looking into making a bid for online retail platform THG PLC (LSE:THG), better known as The Hut Group, while THG announced that it has rejected another unsolicited approach for the company.
Candy Ventures Sarl, Nick Candy’s investment vehicle, confirmed in a statement last night that it is in the early stages of considering a possible offer.
Candy was also interested in taking over Chelsea Football Club recently, but did not make the final shortlist.
Meanwhile, THG said it rejected a 170p per share non-binding proposal from Belerion Capital and King Street Capital Management, which values the company at just over £2bn.
"The board of THG considered the proposal, together with its financial and legal advisers, and concluded that it significantly undervalued the company and its future prospects," it said in a statement.
Since floating in 2020, the British e-commerce retailer has seen its shares tumble 80% following a string of underwhelming results.
Chief executive Matthew Moulding said last month he had rejected “numerous bids” while hinting he could take THG private again.
Shares in THG were up 23% to 143.8p in early trading.