RE: RE: Outcome of vote12 Nov 2025 11:22
If sidara are rejected in the vote for wood group can they increase their offer above 30p?
AI Overview
If Wood Group shareholders reject the current 30 pence per share offer, the UK Takeover Code generally prevents Sidara from making an increased or new offer for six months, unless specific exceptions apply.
The key exception specified in Sidara's formal announcement is that their offer of 30p per share is final and will not be increased unless a third-party makes a competing offer, or the Takeover Panel provides its consent.
Therefore, if shareholders vote against the deal, Sidara can only increase their offer above 30p if:
Another company announces an offer or possible offer for Wood Group; or
The Takeover Panel grants special permission, which it may do if circumstances materially change (e.g., if Wood Group faced immediate insolvency without a revised deal).
If no other bidder emerges and the Takeover Panel does not provide consent, Sidara would typically be restricted from making a new offer for a period of six months from the date the offer is withdrawn or lapses. The current offer is seen as a "yes or no" vote on the 30p offer due to the terms set by Sidara under the Takeover Code.