Online beauty retailer Adore Beauty shares surged 20 per cent on Monday after it knocked back a $122 million takeover proposal from UK-based e-commerce and retail business THG.
The Australian company founded by Kate Morris and James Height, who together control 21.67 per cent, confirmed on Monday that it had received a non-binding indicative offer from the Manchester-based firm, which was first reported by Street Talk.
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Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
