Investment fund Cathexis UK Holdings, which already owned nearly 30% of ISG, is seeking to take over the whole business. So far it has managed to secure 1.7% of the business from fellow shareholders accepting its offer, taking its holding to 31.23%
Cathexis’ offer price of 143p per ISG share secured it just 1.58% of additional shareholding by the time of the first deadline on 11th January. An extension of the offer to 25th January expired yesterday with Cathexis securing a further 0.12%.
Cathexis has now extended its offer until 1st February 2016.
ISG shares closed at a price of 147p yesterday.
Got a story? Email news@theconstructionindex.co.uk
