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IWG receives takeover approaches from Starwood Capital, TDR and Lone Star

Reuters - UK Focus

LONDON, May 11 (Reuters) - British serviced office provider IWG (LSE: IWG.L - news) said on Friday that it had attracted takeover approaches from three suitors, signalling the company behind the Regus (Other OTC: RGSJF - news) brand could become embroiled in a bidding war.

Starwood Capital and TDR Capital have made separate indicative proposals while Lone Star has also made an approach, the company said. It comes after talks with joint bidders Onex and Brookfield Asset Management (IOB: 0KEH.IL - news) failed at the start of February. (Reporting by Ben Martin; Editing by Elaine Hardcastle)