ISG board rebuffs increased £85m Cathexis takeover offer

摘要

ISG's board has rebuffed an increased £8Sm takeover offer for the firm by Cathexis, advising its shareholders not to sell their shares to the US investor. ISG's statement on Monday came after Cathexis upped its cash offer for the contractor by 20% last Friday to £1.71 per share, from its initial £1.43 per share offer, equivalent to £71m, on 11 December. The firm has said its revised offer is final and "will not be increased further". As of Monday, Cathexis owns or has support from shareholders equivalent to over 30% of ISG shares. It wants 50% support for the deal to seal the takeover, down from the 90% threshold it initially set.