IWG surges 21% on takeover talks with 3 rival suitors

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IWG soars after confirming takeover talks with 3 rival bidders

Shares of IWG PLC surged 22% in Monday’s trade after the serviced-office company said it’s in talks with three rival private equity firms about a potential take over. In a statement out late Friday, the company — formerly known as Regus — said it has received an approach from Lone Star and two separate indicative proposals from Starwood Capital and TDR Capital. “The board is evaluating the possible offers with its financial advisers and shareholders will be updated in due course,” IWG said in the release.

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