A £2.07bn bid to takeover online retail and software giant THG has been abandoned by the two investment companies behind it.
Belerion Capital and King Street Capital Management have confirmed they will not make a formal offer for the Manchester-headquartered group.
The decision comes after they first revealed the unsolicited offer of 170p per share last month. READ MORE: The top team leading Matthew Moulding's online retail and software giant THG Under the London Stock Exchange's rules, the companies had to state by June 16 whether an offer will be made or not.
However, Belerion Capital and King Street Capital Management still have the right to make or participate in an offer for THG within the next six months.
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