IWG confirms takeover approach from Canada's Brookfield and Onex
FTSE 250 flexible office space provider IWG noted recent press speculation on Wednesday and confirmed that it has received an indicative proposal from funds managed by affiliates of Canada's Brookfield Asset Management and Onex Corporation regarding a possible cash offer for the company.
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“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 said.
The consortium now has until 1700 GMT on 20 January 2018 to either announce a firm intention to make an offer for the group or say that it it does not intend to make an offer. This deadline can be extended with the consent of the Takeover Panel.