Bidding war breaks at THG

SHARES in online health and beauty retailer THG surged by as much as a quarter early yesterday after a bidding war broke out for the business.

The share jump came after investment firms Belerion Capital and King Street Capital had a joint bid worth £2.07 billion rejected by the Cult Beauty owner on Thursday evening. Meanwhile, property tycoon Nick Candy also confirmed that his investment vehicle is “in the early stages” of considering an offer for the entire business.

Investors in THG include Scottish philanthropist Sir Tom Hunter.