January 17, 2018 / 8:49 AM / 8 months ago

BUZZ-IWG: Report on 300p offer boosts shares

** Shares in Serviced office provider IWG jump 5.5 pct after report on M&A offer

** Canada’s Brookfield Asset Management and Onex are preparing a 2.7 billion pound ($3.72 billion) offer for IWG, Bloomberg reports citing sources

** In late Dec, IWG confirmed it got an all-cash takeover approach from Onex and Brookfield Asset, but did not provide offer details

** Bloomberg says firms are lining up a 300p bid — c50% premium to IWG’s closing price before it confirmed in Dec

** Offer, however, is still a far cry from IWG’s record closing price of 365.2p in June 2017

** IWG lost roughly 1/3rd of its value on October 19, after a profit warning ($1 = 0.7261 pounds)

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