Workspace provider IWG is reportedly in £4bn takeover talks with New York-based private equity firm CC Capital.
According to Sky News, CC Capital has held talks with IWG about a prospective bid in the last month.
Sky cited a property industry source as saying that any offer would need to be lodged at a “very significant” premium to the current share price to stand a chance of being recommended IWG’s board.
It was understood that CC Capital has enlisted advisors from banks to work on a prospective bid.
IWG warned earlier this month that underlying group earnings for 2021 were set to be “well below” the previous year as the overall improvement in occupancy across the group was lower than previously expected due to the prolonged impact of Covid-19. However, it reiterated its expectations for a strong recovery in 2022.
