Cathexis acquisition of ISG

Overview:

• Cathexis, a shareholder of ISG, acquired ISG through a hostile takeover.
• This was done through an unconditional offer. 
• The transaction was valued at £85 million.
• Cathexis initially offered to acquire the target company at 143p per a share. Its final offer was 171p a share. 
• ISG is a construction company. 
• Hostile takeovers tend to be rare in the UK. 

Rani Mehta - Journalist