Shares in THG UK:THG jumped over 16% on Monday after confirming it has been approached with a takeover bid by Apollo Global Management. The U.K. online retailer, also known as The Hut Group, said it received a “highly preliminary and non-binding indicative” proposal from the global private equity firm but did not disclose any financial details. Apollo has until May 15 to make a formal offer or walk away according to U.K. takeover rules.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.