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Powerscourt handles THG, the British online retailer of consumer brands, as it rejects a takeover offer from Apollo Global Management.
Apollo made its bid on April 17 and discussed the offer with THG’s board.
THG board members and shareholders representing a majority of the outstanding share rejected the offer based on its inadequate valuation and structure.
The company expects its revamped board and management team are poised to maximize shareholder value across its nutrition, beauty and ingenuity divisions.
Charles Allen, THG’s independent chairman said the board remains fully confident in THG's strategic direction and long-term prospects as an independent company.
Thanks to “THG’s strong balance sheet and category leading positions within substantial global end markets that continue to benefit from long-term structural growth, we have confidence in our ability to deliver long-term value for shareholders and remain on track to be cashflow positive in 2024” said Allen.
Powerscourt has Nick Dibden, Victoria Palmer and Nick Haynes working the THG business.
Caterpillar’s Rob Rengel will join ATI Inc. on June 22 as VP-investor relations, succeeding the retiring David Weston.
Hut 8, energy infrastructure platform, has named NextEra Energy's Mark Eidelman head of IR and SVP of strategic finance.
Teneo handles easyJet as Minneapolis investment firm Castlelake mulls a possible takeover of the British budget airline.
Brunswick Group represents Universal Music Group as it rejects the unsolicited $65B takeover offer by billionaire Ed Ackman's Pershing Square Capital Management because it “fundamentally and materially undervalues” the world’s largest music company.
Prosek Partners brings on Danielle O’Brien as a managing director in its investor relations practice, based in the firm’s New York office.
