CC Capital will not make a takeover bid for office space provider IWG, the U.S. private equity firm said on Tuesday, following a media report of deal talks between the two.
Shares of the company, that competes with WeWork, jumped as much as 8% on hopes of a bid after the Sky News report, and pared gains to trade 2.4% higher by 0840 GMT.
The report said IWG was in secret talks about a potential takeover offer that could value the British company at more than 4 billion pounds ($5.54 billion).
Source: Reuters.com