THG Plunges as Apollo Takeover Talks Collapse in Fresh Blow (1)

THG Plc shares plunged Friday after ending talks with Apollo Global Management Inc. in the latest failed takeover attempt of the struggling UK online retailer.

The British company, which operates hundreds of beauty and lifestyle websites, said in a filing that after a short discussion with the New York-based private equity business it has become clear there is “no longer any merit in continuing to engage with Apollo.”

THG said it rejected Apollo’s approach for the same reason it rebuffed others — “inadequate valuations and the nature of those offer structures.” Apollo confirmed in a separate statement Friday that it ...