THG surges 24% as Candy Ventures says it may consider making an offer

Shares of THG THG, +24.52% climbed 25% in London as a potential bidding war emerged for the U.K.-listed online retailer, known as the Hut Group. THG said late Thursday that it had rejected a proposal from a group of investment companies led by Belerion Capital and King Street Capital Management for 170 pence a share, valuing the deal at 2.07 billion pounds ($2.58 billion). Meanwhile, technology venture capitalist Candy Ventures Sarl said late Thursday that it was in the early stages of considering a possible offer for THG, though there was no guarantee of a formal offer. THG said in April that its board had rejected a number of takeover offers.