IWG rejects offer from US real estate investment trust Prime Opportunities

US real estate investment group Prime Opportunities Investment said on Tuesday that it had made an approach to IWG regarding a possible cash offer that was rejected by the London-listed office space provider.

FTSE 250

20,508.75

15:45 15/11/24

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FTSE 350

4,453.56

15:45 15/11/24

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FTSE All-Share

4,411.85

15:45 15/11/24

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International Workplace Group

171.60p

15:44 15/11/24

-0.81%

-1.40p

Prime Opportunities said it is still considering the possibility of making an offer for IWG and is "confident in its ability to submit a further proposal to IWG's board for its consideration in due course".

The group added that there can be no certainty that any offer will be made, nor as to the terms of any such offer.

Earlier this month, IWG said it was considering three possible takeover bids from Lone Star Europe, Starwood Capital European Operations and TDR Capital LLP, after Brookfield Asset Management and Onex Corp decided not make an offer for the group.

At 0900 BST, the shares were up 2.1% to o 310.70p.