Takuechi Finance Takuechi Finance
Follow us on Twitter Follow us on LinkedIn Follow us on Instagram
Daily construction news
Weekly plant news

Construction News

Sun April 22 2018

Related Information
Related Information
Related Information
Related Information

News » UK » Cathexis raises its bid for ISG » published 29 Jan 2016

Cathexis raises its bid for ISG

Cathexis UK Holdings, the fund trying to take over construction group ISG, has improved its offer by nearly 20%.

On 11th December 2015, Cathexis launched an offer of 143p per ISG share in a bid to take over the business. After extending the deadline for its offer twice it managed to muster 1.7% of the shares, which added to the shares it already owned gave it a holding of 31.23.

Earlier this week Cathexis gave ISG shareholders another extension to the deadline to accept its offer.

With take up proving slow and the offer price below ISG’s actual share price (163p currently), Cathexis has now raised its offer to 171p per share and swiftly secured a further 0.6% of the shares at this new price.

ISG’s board responded by saying that it noted the announcement by Cathexis but repeated its recommendation that shareholders should take no action.




Download our free construction news iPhone / iPad app. Sign up to our FREE email newsletters or subscribe to our RSS feed for regular updates on the latest Construction News, Plant News & Contract News. The Construction Index also provides the latest Construction Tenders, Construction Market Data & Construction Law Commentary all FREE.

This article was published on 29 Jan 2016 (last updated on 1 Feb 2016).

More News Channels