This hasn’t been a good year for IWG and it just got a little worse. A dismissive note from Credit Suisse sent the world’s biggest serviced offices provider spinning to the bottom of the FTSE 250, its shares falling 15¼p to 213½p.
Over the past ten months IWG, which owns the Regus brand, has issued two profit warnings, lost its chief operating and financial officer and seen not one, not two, but six different buyout offers from potential suitors go out the window.
Not a single buyer managed to see eye-to-eye with IWG’s board about a suitable price — and that included private equity groups such as Terra Firma and Brookfield Asset Management.
