IWG explores sale-and-leaseback as bidders drop away

IWG is exploring a sale-and-leaseback of its real estate in order to extract value from the company after interested parties failed to register a formal bid for it.

IWG’s management informed Starwood, Terra Firma and TDR that it did not want to continue discussions regarding their possible offers a day before their formal “put up or shut up” deadline was due to expire on 7 August.

It is understood that management of the Regus owner had been looking to extract bids of around 335p per share for the company, but no