IWG begins takeover talks with three buyers

IWG, the parent company of Regus, the office provider, is in talks for a potential takeover just months after a Canadian consortium walked away from a deal to buy the business.

After the market closed yesterday, the company said it had received an approach from Lone Star, the US private equity company, as well as two separate indicative proposals from Starwood Capital, the private investment company, and TDR Capital, the London-based private equity group. The value of the potential deal was not disclosed. The news comes weeks after IWG was left smarting after private equity firm Onex Corp and Brookfield Asset Management walked away from a deal to buy it, sending shares down more than 15pc.

Its shares closed 10.3pc higher at 252p yesterday on rumours of a bid, prompting a disclosure to the market.