Brookfield, Onex to make $3.7 bln bid for Switzerland’s IWG

Canadian alternative investment firm Brookfield Asset Management and Canadian private equity firm Onex Corp are preparing a bid for IWG Plc that will value the company at about 2.7 billion pounds (US$3.7 billion), according to a report by Bloomberg.

Based in Zug, Switzerland, IWG is a provider of flexible workplaces, including office spaces, co-working spaces, business lounges, meeting rooms, day offices, virtual offices, and mobile sites, as well as workplace recovery services. It has close to 3,000 locations in more than 100 countries.

Last month, IWG said that Brookfield and Onex had together made an “indicative proposal” to potentially acquire the business. No financial terms were disclosed.

Photo courtesy of Yuri_Arcurs/Digital Vision/Getty Images