Mark Dixon founder and Chief Executive of Regus had hoped to increase the company's presence in the lucrative US market by buying Frontline Capital Group, owner of its biggest rival HQ Global Holdings. But shareholders gave the acquisition a resounding thumbs down, pushing down the Regus share price to a record low of 202p once news of the merger talks leaked out.
Regus has had a somewhat turbulent relationship with the City, with a planned flotation being pulled at a late stage in 1998 before the company finally went public in 2000.
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