1st Feb 2016 10:05
LONDON (Alliance News) - Construction services company ISG PLC on Monday reiterated its view that investors take no action on the takeover offer from Cathexis UK Holdings Ltd.
On Friday, Cathexis made a new 171.00 pence per share takeover bid for ISG and, later in the day, said its total holding in the company had increased beyond 30%, meaning its offer is now mandatory.
ISG said shareholders should take no action on the bid and said it would issue a formal response in due course. It added that should Cathexis continue to seek to buy shares in the company, this will risk a change of control occurring and will put ISG's dividend at risk.
ISG shares were up 4.3% to 170.9999 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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