IWG, the world’s largest serviced office group that trades at a fraction of the value of WeWork, has received an all-cash takeover approach from Canada’s Brookfield Asset Management and private equity group Onex.
The offer, which was confirmed by the UK-listed IWG late on Saturday, comes after months of speculation about a takeover of the group that operates about 3,000 locations in 100 countries and is best known for its Regus brand.
In a statement, IWG said: “There can be no certainty that any offer will be made for the company, nor as to the terms on which any offer might be made.” It did not provide details of the offer from Brookfield, the world’s second largest real estate fund manager, and Onex, which is run by Canadian billionaire Gerry Schwartz.
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