IWG receives takeover approaches from Lone Star, Starwood and TDR

Global serviced office provider IWG has announced that it has received an approach from US private equity group Lone Star as well as two separate takeover proposals from Starwood and TDR Capital.

IWG's board is evaluating the possible offers with its financial advisers and shareholders will be updated in due course, the company said in a statement.

There can be no certainty that any offer will be made, it added.

Shares in the firm rose 10% following the announcement, on prospects of a potential bidding war for the UK-based group.

Earlier this year, IWG rejected a €3 bn takeover offer from Canada’s Brookfield Asset Management and private equity group Onex after deciding that it continues 'to have an exciting future as an independent company'.

IWG operates in about 3,000 locations in 100 countries. Although it is best known for its Regus brand, it operates flexible shared offices under the Spaces name that compete with US start-up WeWork.


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