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Pin to quick picksWood Group (J) Share News (WG.)

Share Price Information for Wood Group (J) (WG.)

London Stock Exchange
Share Price is delayed by 15 minutes
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Share Price: 68.55
Bid: 68.75
Ask: 69.30
Change: 0.10 (0.15%)
Spread: 0.55 (0.80%)
Open: 68.70
High: 68.85
Low: 66.55
Prev. Close: 68.45
WG. Live PriceLast checked at -

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TOP NEWS: John Wood gets "fourth and final" Sidara takeover bid

Wed, 29th May 2024 15:35

(Alliance News) - John Wood Group PLC on Wednesday confirmed that Dar Al-Handasah Consultants Shair & Partners Holdings Ltd has made another cash takeover offer.

The Aberdeen, Scotland-based consulting and engineering firm said this "fourth and final" offer from the Beirut-founded company, which is known as Sidara, is worth 230 pence per share. Wood Group is "evaluating the final proposal", which values it at around GBP1.58 billion.

The latest tilt was sweetened from the 220p per share third offer Wood Group rejected on Friday.

Wood Group shares were down 6.1% at 178.70p each on Wednesday afternoon in London. It has a market capitalisation of GBP1.24 billion.

Wood Group said that its board and financial advisors were evaluating the new proposal, and that it will make a further announcement in due course.

It noted that Sidara's proposal is preliminary and conditional, and that there can be no certainty that the would-be buyer will make an offer.

Earlier on Wednesday Sidara, a planning, design, engineering and project management firm, announced the 230p per share proposal. It said this represents a 52% premium to John Wood Group's 151.30p closing stock price on April 29, the day before Sidara made its first proposal.

Sidara has until June 5 to announce its firm intention, or lack thereof, to make an offer, unless John Wood and the UK Takeover Panel consent to an extension.

"Wood has not engaged with Sidara since Sidara made its first approach," Sidara noted, adding: "Sidara does not believe that its proposal can be progressed unless the board of Wood engages with Sidara and an extension to the deadline is granted."

By Emma Curzon, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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IN BRIEF: John Wood wins "significant" contract with Esso Australia

John Wood Group PLC - Aberdeen, Scotland-based oilfield and engineering services provider - Awarded "significant" new contract by Esso Australia Resources Pty Ltd to provide maintenance of onshore and offshore assets in Gippsland Basin in Victoria state. John Wood says the "long-term" contract starts this month and will create 250 jobs in Victoria. It doesn't provide the monetary value of the contract, nor its exact term.

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Wood Group wins maintenance contract with Esso Australia

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(Sharecast News) - John Wood Group announced on Thursday that it has completed the sale of its 51% stake in EthosEnergy Group to private equity firm One Equity Partners for a final net cash consideration of $138m.

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2 Jan 2025 09:39

IN BRIEF: John Wood completes Ethos Energy sale for USD138 million

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John Wood wins OMV Petrom contract for sustainable aviation fuel

(Alliance News) - John Wood Group PLC on Thursday said it has won a "significant" contract with OMV Petrom for a sustainable aviation fuel production project in Europe.

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Wood Group wins contract to work on eco fuel refinery in Romania

(Sharecast News) - John Wood Group on Thursday said it had won a contract by OMV Petrom for a major project to boost production of sustainable fuel in Southeast Europe.

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(Sharecast News) - Wood Group said on Thursday that it has secured three "major" agreements with BP to provide engineering and project delivery services for their capital projects worldwide.

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