Deals
Brookfield, Onex Plan $3.7 Billion Bid for IWG
- Swiss commercial real estate company competes with WeWork
- IWG with almost 3,000 locations rallied back after warning
Photographer: John Taggart/Bloomberg
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Brookfield Asset Management Inc. and Onex Corp. are preparing an offer for IWG Plc that will value the commercial real estate company at about 2.7 billion pounds ($3.7 billion), people familiar with the matter said.
Zug, Switzerland-based IWG, which owns office space and competes with New York-based WeWork Cos., said last month it had received an “indicative proposal” for a cash deal from the consortium. The group is lining up a firm offer of about 300 pence a share but not more than that, said the people, who asked not to be identified because the matter is private. A final decision hasn’t been made and plans for a bid could change, they said.