Stock Market News
IWG still in talks with Starwood and TDR, offer deadline extended
Office space provider IWG is still in talks with private equity groups Starwood Capital and TDR Capital and has extended the deadline for them to make an offer or walk away.
Under UK takeover panel rules, the suitors had until the end of play on Friday to announce a firm offer or drop their interest. However, the deadline has now been extended to 29 June.
"A further announcement will be made when appropriate. 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.
IWG said at the end of last month that it had rejected a cash offer from US real estate investment group Prime Opportunities Investment. Prime Opportunities, meanwhile, said that it was still considering the possibility of making an offer for IWG and was "confident in its ability to submit a further proposal to IWG's board for its consideration in due course".
IWG, formerly Regus, had said earlier in May that it was considering three possible takeover bids from Lone Star Europe, Starwood and TDR, after Brookfield Asset Management and Onex Corp decided not to make an offer for the company. However, Lone Star said on Monday that it would not be making an offer for the group.
At 1230 BST, the shares were down 0.1% to 313.70p.
Under UK takeover panel rules, the suitors had until the end of play on Friday to announce a firm offer or drop their interest. However, the deadline has now been extended to 29 June.
"A further announcement will be made when appropriate. 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.
IWG said at the end of last month that it had rejected a cash offer from US real estate investment group Prime Opportunities Investment. Prime Opportunities, meanwhile, said that it was still considering the possibility of making an offer for IWG and was "confident in its ability to submit a further proposal to IWG's board for its consideration in due course".
IWG, formerly Regus, had said earlier in May that it was considering three possible takeover bids from Lone Star Europe, Starwood and TDR, after Brookfield Asset Management and Onex Corp decided not to make an offer for the company. However, Lone Star said on Monday that it would not be making an offer for the group.
At 1230 BST, the shares were down 0.1% to 313.70p.
Related share prices |
---|
IWG (IWG) share price |
Stock News headlines are gathered from financial news sources around the web. Views and opinions on each item are from their respective authors and website. They are not opinions of LiveCharts.co.uk
Get a free widget for your website with our latest headlines.
You can now add our live prices and new headlines to your website.The news widget features quotes for Oil prices, spot Gold price and Indices plus a choice of news channel for healines.
Top Shares pages
- Share price quotes
- Share charts
- Share watch list
- Company Results Calendar
- Top Large UK Shares
- UK Market Sectors
- Stock market news
- Company news
- Share tips
- A-Z company search
More share features
POPULAR Share Prices
- Royal Mail share price
- Lloyds share price
- HSBC share price
- Barclays share price
- Prudential share price
- Santander share price
- NEXT share price
- Diageo share price
- BP share price
- Vodafone share price
- British Airways
- Centrica share price
- Tesco share price
- Taylor Wimpey Share Price
- National Grid
- GKP Share Price
- Marks and Spencer
- Rolls Royce
- Rio Tinto
- THG Share Price
- Aviva Share Price
- Boil Share price
- Easyjet Share Price
- Genedrive Share Price
- SSE Share Price
- IAG Share Price
- Boohoo share price
- HE1 share price
- AVCT share price
- BOOM share price