Source: Sharecast
Like previous offers for THG, Apollo's bid was said to have been rejected due to an "inadequate valuation" and the nature of the offer structure.
"THG's Board, in accordance with its fiduciary obligations and as demonstrated with its recent engagement with Apollo, will always give due consideration to all potential options which provide the opportunity to maximise value to THG's shareholders," THG chair, Charles Allen said.
"The Board remains fully confident in THG's strategic direction and long-term prospects as an independent company."
THG also delivered an update on trading, saying that the improvement in profits and cashflow seen over the first three months of 2023 had continued into the second quarter.
The company also said that momentum in its online sales also supported management's full-year guidance.
Likewise, the business was still seen turning cashflow positive in 2024 while its adjusted operating profit margin was seen reaching 9.0% in the medium-term.