RE: Wandsworth17 Nov 2024 20:30
"Takeover related costs
During the period, Dar Al-Handasah Consultants Shair and Partners Holdings Limited ("Sidara") made four unsolicited proposals to acquire Wood. On 5 August 2024, after an extended period of detailed engagement, Sidara announced that it did not intend to make an offer for Wood in light of rising geopolitical risks and financial market uncertainty.
We incurred $5.5m of costs related to these proposals in the period to 30 June 2024. The cash costs in the second half are expected to be around $5m, taking the total expected gross cost to be around $11m. This total expected gross cost will be partially reimbursed by Sidara under an agreement for external costs coverage."
From Half Year Results.