Member Info for evansthemeasure

Wiggly, My understanding was WG had agreed to consider the offer of £2.30 but it was never stated as accepted. Which to be fair does suggest some engagement. I'm just trying to determine is there any evidence beyond the RNS's, which just stated an approach has been made, as I have seen nothing since. I'm hoping someone could provide further evidence of any engagement as we all have a lot riding on the outcome.

Thanks Yorkshireblues, but that was one of the ones I had noted. Based on last years fiasco, although Sidara were making offers, WG weren't engaging in talks. Hence my question, what evidence do we have that WG are engaging this time because last time despite a number RNS's being released, WG were ignoring Siadaras approach.

I've only seen the RNS's from both parties. Obviously I've missed something, can you kindly point me towards the sources I'm missing.

Does anyone here have any evidence to support the idea that Sidara & WG are actually engaging in talks or are we just guessing here?

Just to put it in context, Worley had a market cap of over £4billion at the time of Sidaras' failed t/o bid.

It's interesting that Sidara reduced its stake in Worley 1 day before they bid for WG in 2024.

I hadn't realised they previously intended to acquire Worley. I suppose this reinforces their determination to buy WG but I'm still on the fence here.

https://sidaracollaborative.com/news/Sale-of-Worley-Shareholding

JO, I'm in for the long haul, as you may have guessed. I don't believe a quick sale is the answer here.

I just think companies like WG are few and worth supporting. Like many here I've worked in the Middle East and know they value our engineers in high esteem. I only hold a fee shares at the moment most of my portfolio is invested across the pond, I'm just hoping with Trump in charge the US loses its appeal and investment money returns where it is much needed over here. Going forward, if WG can turn this around, I intend to add a lot more.

JO, I'm expressing an opinion not facts.

If we stuck with the facts none of us would have anything to say.

Absolutely, I meant CFO not CEO. I think Ken's here to stay.

I think WG has no intention of doing a deal with Sid or anyone else.

1). The news regarding Sidaras' interest was leaked by WG first to help bolster the share price following the last update which caused the sp to plummet. KGs' comments for shareholders to take no action was a clue.

2). The CEO was let go to allow a more experienced CEO to take his place who had contacts in high places and to help with re-financing and gain support of principle shareholders.

3). KG intends to follow through with his plan of restructuring & right sizing the business and has convinced majority shareholders to support him.

4) I don't consider WG to be a good match for Sidara either in size or area of operations. Sidaras group of companies would be totally distorted by absorbing WG into the fold.

All imo of course.

I suppose it was inevitable, hopefully we will be looking back 1 year from now with an sp over 10p. My concern was with no news they were quietly disappearing into the ether but lo and behold they are sticking to their plans with a target of 4000 boepd by the end of the year. Good luck to all those remaining holders here.

I'm currently considering the following as possible outcomes.

1). A cash offer for the entire business by Sidara between £1.40 - £1.80 per share.

2). No deal.

3). A merger with financial caveats where Sidara provides a cash injection in return for a reduced offer for the entire business but with possible selling off of unwanted parts of the business post deal.

Just my thoughts, anyone got any other possible scenarios for consideration.

Letter from Sparta Capital to WG dated April 2024 requesting strategic review amongst other things.

https://www.prnewswire.co.uk/news-releases/sparta-capital-sends-letter-to-board-of-directors-of-wood-group-302117261.html

It would be nice to think that shareholders interests were high on their list of priorities, but previous experience tells me the BoD only act in the interest of shareholders if it suits them. Hence my question does anyone here think a hostile bid might be made or is it so unlikely that the BoD can rest easy knowing it is unlikely to happen. I'm aware that an EGM would be part of the process, this is purely speculation on my part trying to understand all possible outcomes.

If the BOD remain unreceptive to an offer, what are the chances that Sidara or another interested party turn hostile?

I think it is safer to try and understand the company fundamentals than look at the charts for guidance. Charts tend to be reactive and reflect sentiment rather than fundamentals. If the take-over doesn't materialise, is the company undervalued at the price you paid for shares is all you need to know. Ignore the hype, stick to your guns and eventually you will be rewarded. It is possible we could be in for the long hall as this is not a quick fix, so be prepared to stay invested for months rather than days. If investing here is worrying you, reduce your position or get out.

Looks like Aramco are on the acquisition trail, nice to know someone's got some money to spend.

It's been mooted on here that Aramco could be backing Sidara anybody got any information to support that idea?

https://finance.yahoo.com/news/saudi-aramco-weighs-bid-bp-104619474.html

That would be my preferred outcome if I were a Wood employee. Sidara tends to allow its' subsidiaries full autonomy. The problem would be achieving the right balance with WG at 35k staff compared to Sidaras' 20k. Food for thought though.

Just a thought. With BP increasing its' alliance with WG would not BP be a better suitor than Sidara going forward.

Try this one from Fintel,

https://fintel.io/so/gb/wg.