Slaughter and May is advising Regus plc ('Regus'), the world's largest provider of flexible workspaces, on an increased cash offer, by its wholly-owned subsidiary, to acquire MWB Business Exchange Plc ('Business Exchange'). The increased offer values the entire issued share capital of Business Exchange at approximately £65.625 million.

The increased offer, which was announced on 19 February 2013, is in response to a competing offer by Pyrrho Investments Limited for shares of Business Exchange that it does not currently own.

The administrators of MWB Group Holdings (a company which through its subsidiary owns 75.22% of the shares of Business Exchange) have agreed to accept the terms of the increased offer.

Slaughter and May also advised Regus on the original offer that was announced on the 20 December 2012.
 
Contacts

Corporate and Commercial: Andy Ryde (partner), Paul Mudie (associate), Jonathan Cohen (associate), Robyn Butler (associate); Financing: Ed Fife (partner); Corporate Recovery and Insolvency: Ian Johnson (partner); Tax: Sara Luder (partner), Owen Williams (associate)

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