IWG shares rise as new suitor enters the takeover fray

Service office space provider IWG (LON:IWG) confirmed press reports that it has received an approach from private equity outfit Terra Firma with regards to a potential cash offer for the entire issued stock. Management said that they were currently evaluating the offer and would report back to shareholders in due time. This is the latest in a number of recent bids, with six other suitors having made attempts at buying the company during the last six months.

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Shares in the business had climbed by 3.22% to 326.70p at 11:55 BST.