Investing.com -- British e-commerce company THG has turned down an unsolicited acquisition offer from Selkirk for its sports nutrition brand, Myprotein, according to an announcement on Wednesday.

The bid placed a value on Myprotein between £400 million and £600 million ($532 million - $799 million).

However, THG labeled the proposal as "largely unfunded, highly conditional and non-binding," leading to its rejection.

Selkirk, an acquisition vehicle, had made the offer in an attempt to acquire the popular sports nutrition brand.

However, the lack of funding and the conditional nature of the offer resulted in THG dismissing the proposal.

Myprotein is a prominent brand in the sports nutrition market, and its potential acquisition would have been a significant move for Selkirk.

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