London-listed IWG PLC rejected an offer approach from California-based Prime Opportunities Investment Group, Reuters reported.
Earlier in May, the serviced office group received separate indicative proposals from Starwood Capital Group and TDR Capital LLP. It was also approached regarding a possible takeover by a subsidiary of private equity firm Lone Star Funds.
The newswire noted that Prime Opportunities is thinking about submitting another offer for IWG. Under U.K. takeover panel rules, Starwood, TDR and Lone Star have until June 8 to either make a firm offer or walk away, while real estate investment company Prime Opporunities has until June 26, according to the report.
The renewed interest in IWG comes after talks for a potential buyout of the company by Canada-based Brookfield Asset Management Inc. and Onex Corp. fell through in February.
