Cheap as chips4 Sep 2025 17:35
The Breakdown of the Sidara acquisition:
* Cash Value: £216 million ($291 million), representing 30 pence per share.
* Debt Assumption: Sidara will take on Wood Group's outstanding debt of approximately £1.2 billion ($1.6 billion).
* Cash Injection: Sidara will provide $450 million in new capital to Wood Group, with $250 million available after shareholder approval and the remaining $200 million upon completion of the acquisition
I will be amazed if no else comes in for WOOD given Sidara’s first offer that is low, especially knowing how desperate Sidara are to acquire WOOD.
Talal Shair, chair and chief executive officer of Sidara, said: "This is a transformational moment for our company.
"Through this move, Wood becomes part of Sidara, creating a global, world-class, privately held engineering and design group. In the short term, our additional financial support will bring greater stability, but our vision is for Wood to take the lead in energy and materials.
"We have always admired what Wood has built - its talented people, global clients, and technical capabilities. This transaction allows us to strengthen client relationships, expand into new markets, and serve a broader range of global clients. We look forward to realising Wood's full potential within Sidara."