THG rejects ‘undervalued’ £400m-plus offer for Myprotein

THG has rejected an unsolicited takeover bid from Selkirk, the investment vehicle led by former director Iain McDonald, for its Myprotein brand, calling the offer “wholly unsolicited, largely unfunded, highly conditional, and non-binding.”
The offer, which valued Myprotein at between £400m and £600m on a cash-free, debt-free basis, was primarily structured through newly issued shares from Selkirk.
In a statement to the stock market this morning (23 April 2024) THG also re