Brookfield Weighs Options after IWG Rebuffed GBP2.5 Billion Takeover Offer -FT

FeaturesDow Jones Newswires

Canada's Brookfield Asset Management Inc. (BAM.A.T) is weighing up its options after a second takeover offer that it made for U.K.-listed IWG PLC (IWG.LN) was rebuffed, the Financial Times reports, citing unnamed sources.

--Brookfield's latest bid, worth 2.5 billion pounds ($3.46 billion), valued IWG shares at 280 pence, the FT reports.

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--The FT says that IWG's largest shareholder and founder, Mark Dixon, was inclined to sell the company, but that IWG's other directors resisted Brookfield's overtures, citing the sources.

--Both companies declined to comment, the FT says.

--Brookfield made its first all-cash approach for IWG alongside private equity group Onex last month. The latest offer was made late last week. It has until 1700 GMT on Jan. 20 to either make an offer or walk away.

Full story: http://on.ft.com/2B9DP15

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(END) Dow Jones Newswires

January 17, 2018 11:24 ET (16:24 GMT)

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