International Workplace Group (IWG), the biggest serviced offices group in the world, has confirmed a takeover approach from private equity firms.
The FTSE 250 form which operates under the Regus brand said an approach has been made by Canada's Onex and Brookfield Asset Management.
Under takeover rules, the pair have until 20 January to make an official offer.
The prospect of a deal comes after a profit warning in October which sent shares plunging more than 30 per cent.
Confirmation of the deal sent shares rocketing by more than 25 per cent on Wednesday morning.