|Bid||1.8300 x 0|
|Ask||2.0800 x 0|
|Day's range||1.9300 - 2.0000|
|52-week range||1.2900 - 3.6600|
|Beta (5Y monthly)||N/A|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
The private equity backer of Six Nations Rugby has approached Britain's biggest serviced offices provider about a £1.5bn deal that could trigger a broader break-up of the group. Sky News has learnt that CVC Capital Partners is among a number of buyout firms which have approached IWG, the FTSE-250 company previously known as Regus, about acquiring The Instant Group, its digital arm. Banking sources said that Tim Rodber, The Instant Group's chief executive, had been marketing the business to a number of private equity firms in recent weeks following a string of unsolicited approaches.
The group said it remains "cautiously optimistic" about the full year, as it forecast adjusted core profit to come in the lower end of the range of market expectations of 304 million pounds to 380 million pounds ($350.69 million to $438.37 million). IWG had reported losses for the previous two years, as the group's operations were hit by the pandemic. The group is merging its digital assets with flexible workspace platform The Instant Group, as tenants reassess their options, including a shift to a permanent hybrid model in which employees split work between home and office.