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IWG confirms takeover bid, shares soar

The FTSE 250 firm said the takeover bid is from funds managed by affiliates of Brookfield Asset Management, Inc. and Onex Corporation

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The flexible workspace provider gave no other details of the bid

IWG plc has confirmed that it has received a takeover bid from funds managed by affiliates of Brookfield Asset Management, Inc. and Onex Corporation.

The FTSE 250 company gave no other details of the bid. 

"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 company's shares soared in early trading, rising nearly 30% to 260p.

IWG is the global leader for flexible workspace with over 3000 centres in more than 100 countries and 1000 cities across the world.

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