The history behind International Specialty Products’ attempt to buy the Dexter Corporation dates back to 1998. Dexter was in the process of buying a controlling stake in a company called Life Technologies, with a view to a takeover. ISP started to buy stakes in both companies as a way of halting the deal. By September that year Dexter had a 52% stake in Life Technologies, ISP owned 9.9% of Dexter and 21.7% of Life Technologies, which was just enough to stop Dexter getting the 80% shareholder approval it needed to acquire more.
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