IWG extends deadline for Starwood and TDR takeover bids

IWG has received permission from the regulator to extend the deadline for a takeover of the group by Starwood or TDR.

IWG said it had received two separate proposals from Starwood Capital European Operations and TDR Capital around a cash offer for the company’s shares.

They were due to announce either firm offers or drop out of the running by today but IWG said discussions were still ongoing and a new deadline of 29 June has been agreed.

IWG is the world’s largest serviced office provider, and includes brands Regus and Space among its serviced office