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Regus raises offer for MWB Business Exchange

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(Globalpost/GlobalPost)

Feb 19 (Reuters) - British office space supplier Regus Plc SA raised its offer for MWB Business Exchange Plc by nearly two-thirds to about 65.6 million pounds ($101.5 million), marginally above a bid by Hong Kong-based Pyrrho Investments.

Regus said it would pay 101.0233 pence per MWB share, up from its prior offer of 61.576 pence. MWB shares were trading at 100 pence at 1500 GMT on the London Stock Exchange.

Shares in MWB, which provides furnished office space mostly around London, have nearly doubled since Regus first offered to buy the company in December.

Pyrrho, which owns 16.7 percent in MWB, has offered 100 pence per share for the rest of the company.

Regus extended its offer until March 8.

Regus shares were up about 1 percent at 128.6 pence on Tuesday afternoon.

http://www.globalpost.com/dispatch/news/thomson-reuters/130219/regus-raises-offer-mwb-business-exchange