Regus launches fresh offer for MWB Business Exchange

Regus has launched a fresh bid for serviced office provider MWB Business Exchange (MBE) at a much lower price, a year and a half after it withdrew its initial offer.

Through its subsidiary Marley Acquisitions Limited (MAL), Regus is making a cash offer for 61.576p per share of MBE, valuing the company at £40m.

This is an all-cash premium of 19.57% to MBE's closing price of 51.5p on December 19th.

Regus said that if it receives acceptances in respect of at least 75% of the total number of MBE shares, it will apply to the London Stock Exchange for the cancellation of trading of MBE shares on AIM.

Back in May 2011, Regus had made an indicative offer for MBE at 92.36p per share, valuing the company at a much higher price of £60m.

However, this was latter withdrawn after the other side did not seek to "engage in meaningful discussions".