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

Construction News

Thu April 26 2018

Related Information
Related Information
Related Information
Related Information

News » UK » Slow take-up prompts ISG bidder to extend its offer » published 12 Jan 2016

Slow take-up prompts ISG bidder to extend its offer

The £70.8m takeover bid for ISG by investment firm Cathexis as had an underwhelming response from shareholders.

Last month Cathexis gave ISG shareholders until 11th January to accept its offer of 143 pence per share. The ISG board recommended shareholders to reject the offer and hol don to their shares.

Aside from Cathexis itself, just 1.58% of shareholdings had accepted the offer by the deadline. Including its own substantial holding in the business, this gives Cathexis 31.1% of the current issued share capital of ISG.

Cathexis has now extended its offer by another two weeks to 1pm 25th January 2016 in a bid to woo more sellers.

ISG share price closed yesterday at 147 pence.




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 12 Jan 2016 (last updated on 12 Jan 2016).

More News Channels