The board of ISG is urging shareholders not to accept the offer from Cathexis, a US owned investment fund that already has 29.53% of the construction and fit-out contractor.
ISG chairman Roy Dantzic said: "Cathexis is an astute investor which has shrewdly built up its shareholding in ISG. The board urges shareholders not to give away your value in ISG at today's inadequate offer price."
The offer from Cathexis will be open until 1pm on 11th January 2016.
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