A public statement is likely to be made on Thursday.11 Jun 2025 18:16
Sky News has learnt that Wood and Sidara, its UAE-based suitor, are to request an extension to a 'put up or shut up' deadline on Thursday for the latter to make a firm offer.
The joint request to the Takeover Panel, which is expected to be granted, is likely to involve a shorter extension than the maximum 28 days allowed under City rules, reflecting the companies' confidence that a deal will be agreed.
Wood and Sidara are aiming to get a binding transaction agreed by 30 June, when a waiver of Wood's lending covenants is due to expire, according to industry insiders.