Mark Dixon, founder and chief executive of IWG, owns 25 per cent of the business David Bebber for The TimesA British serviced office provider said it had received an all-cash takeover approach from two Canadian investors, sending its shares rocketing. The shares in IWG rose nearly 28 per cent to 256p on news of the proposal, before closing at 254½p. IWG operates the Regus brand and runs offices in nearly 3,000 locations in 115 countries. It was founded 30 years ago by the entrepreneur Mark Dixon, who left school at 16 and began his working life selling peat from a wheelbarrow. Last year, IWG made profits before tax of £173.7 million from revenues of more than £2.2 billion.

Source: The Times December 27, 2017 12:11 UTC