Belerion Capital and King Street Capital Management, L.P. cancelled the acquisition of THG Plc from Balderton Capital (UK) LLP, SoftBank Group Corp., Sofina Capital S.A., Jupiter Asset Management Limited T. Rowe Price Group, Inc. and others for £2.4 billion.

Belerion Capital and King Street Capital Management, L.P. agreed to acquire THG Plc (LSE:THG) from Balderton Capital (UK) LLP, SoftBank Group Corp., Sofina Capital S.A., Jupiter Asset Management Limited T. Rowe Price Group, Inc. and others for £2.4 billion on May 19, 2022. As per the transaction, Belerion Capital and King Street Capital Management, L.P. will pay £1.7 per share. Alastair Blackman, Callum West, Nicola Tennent and Tom Erlich of Barclays Bank PLC, and Philip Noblet, Ed Matthews, Paul Bundred and Thomas Bective of Jefferies International Limited acted as the financial advisors to THG Plc.

Belerion Capital and King Street Capital Management, L.P. cancelled the acquisition of THG Plc (LSE:THG) from Balderton Capital (UK) LLP, SoftBank Group Corp., Sofina Capital S.A., Jupiter Asset Management Limited T. Rowe Price Group, Inc. and others on May 19, 2022. As per the transaction, the board of THG Plc concluded that Belerion Capital and King Street Capital Management, L.P. have significantly undervalued the company and its future prospects, and accordingly unanimously rejected the proposal. The investment group do not intend to make an offer for THG.