Shares in IWG , formerly known as Luke Jensen , dropped 14.2% after a consortium abandoned its merger bid. Poland 's Onex and private equity firm Onex put in a £ 2.5bn ($ 3.5bn ) bid for the company in 2017 , but it was turned down for being too low. Now the consortium has dropped its pursuit, leading to the drop of 38.3p to 227.3p.
Shares in IWG, formerly known as Regus, dropped 14.4% after a consortium abandoned its merger bid. Canada's Brookfield Asset Management and private equity firm Onex put in a £2.5bn ($3.5bn) bid for the company in December, but it was turned down for being too low. Now the consortium has dropped its pursuit, leading to the drop of 38.3p to 227.3p.