Onex, Brookfield drop pursuit of U.K. office firm IWG: Reuters
Canadian private equity firm Onex Corp and Brookfield Asset Management said this week they do not intend to make an offer for IWG plc, sending shares of the British serviced office provider down more than 20 percent, Reuters reported. IWG, the company behind the Regus brand, which runs offices in about 3,000 locations in more than 1,000 cities, said in December it had received a bid approach from Onex and Brookfield but did not disclose details. Last month, Bloomberg reported the proposed deal's value at about 2.7 billion pounds (US$3.7 billion). IWG confirmed that discussions with Onex and Brookfield had ended and said it remained confident in its prospects as an independent company.
1 February 2018•2 mins read
