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From the same article, regarding the break up of the company as part of the restructure:

But the board’s preference was to sell the entire company, two people familiar with the talks said, putting Sidara in pole position.

Good summary, however, the Apollo offer was a bit low. See below from FT 24 Feb.

Wood Group has entered takeover talks with the United Arab Emirates-based company that approached it with a £1.6bn buyout proposal last year.

Private equity firm Apollo, which tried to buy Wood for £2.2bn in 2023, is not expected to pursue a rival bid this time, according to people close to the company.

I feel more comfortable with a no deal now than I did before news of this acquisition. These companies are in demand and, if Sid backs out again, there will be other suitors or, WG will get on with debt restructure, further contracts and cash generation. The SP will, eventually, be significantly higher than today and, possibly higher than any derisory offer.

With there being so few retail investors here, I suspect the big drops were all Shorters making some change off the big investors who, know exactly what this company is worth and were happy for the Shorters to give them some money to do their dirty work then take the shares back and wait for the bids to roll in. Everyone’s a winner baby.

Jen, that’s $1bn for a Controlling stake, not the whole company, Oaktree will still retain a minority stake so, the value of the whole company will be significantly higher. Makes me wonder why Apollo didn’t throw equivalent resources at WG when they made their bid. As I said earlier, this must focus both parties in these negotiations. WG shouldn’t be selling themselves short and Sid needs to understand, these companies are now real targets for investors with very deep pockets.

Or, Apollo knew Sid and WG had already done the deal and are just crossing the Ts and dotting the Is so, went for what ever was left on the shelf.

I’m not sure about that. According to the article:

“Over the past five years, Apollo has put about $58bn into climate and energy transition investments”. And:

“ In total, Apollo has around $751bn of assets under management as of the end of last year.”

Swallowing both would be loose change and the synergies are obvious.

This may focus both Sid and WG during negotiations.

“Apollo buys UK energy services group OEG”

An interesting article in the FT. Interesting since Apollo also bid for another energy services group with a global presence also based in ABZ.

Shorter.

@Long, that made me p1ss myself. A word of warning in these anxious times, If you’re planning on poking your head above the butts, be prepared to have someone shoot at it 🤣🤣🤣

If they tabled an offer of 50p they’d have the p1ss ripped out of them and it would be rejected. They’re not stupid, they know that level of offer wouldn’t be accepted so, they wouldn’t waste their time. This is not their first visit, they know what sort of offer could focus the attention of big investors so, making derisory offers isn’t in their interests. I don’t have a clue what price they could start negotiations at but, 50p is very much lower than what is realistic.

long, i’m in deep here, i’m waiting for good news like everyone else but, i’m also being realistic, this is taking too long. they’ve done their due diligence during their last approach so there should be no surprises, the clock is ticking down and i’m a little anxious that what put them off last time, has not been resolved. middle east crisis, **** governance, ceo refuses to **** off?

Happy to be proved wrong but, my stop loss is on and, if there’s no tangible news by Fri, this company will have a very nasty odour about it.

Let see what the weekend brings.

Chas, of course they don’t care about the oil industry, they’re taxing it to destruction but, WG isn’t just involved in O&G. 1:10 jobs in a devolved country that currently relies on public service employment to keep it afloat, is very important, an immediate loss of those jobs will have a huge effect on both local and national output. I hope Sid realises that the majority of those 4500 jobs in ABZ are not just scaffolding and pipe lagging jobs, they’re highly skilled and will be a very important part of the company going forward.

I, personally, don’t see the cash on offer as the main issue holding any deal back, it’s jobs.

With roughly 4,500 of its 35,000 global work force based in Aberdeen, Wood accounts for about one in 10 of north-east Scotland’s oil and gas jobs. (FT 1 Mar 2025)

I see politicians influencing decisions to any deal. The UK hydrocarbon E&P is currently under a punitive tax regime which is causing job losses, an acquisition that sees further jobs head overseas and mass redundancies will cause sleepless nights in the Scottish parliament so, I see the potential for politicians to block any deal that has any loss of revenue to the Scottish economy. It’s not insurmountable but, it could be on the table.

Good luck to those holding here, not long before we’ll know the result.

KiJaHu,

Are you invested in this stock?

everyman and his dog has an office in dubai, they have a stock exchange there, there’s a **** load of cash swilling around the place, they have a relaxed approach to taxation and, the weather is fantastic. not a lot to be gleaned from that statement . this is a red or black trade, it’s going north or south, both will happen quickly depending on what the outcome is. if you’ve got the spuds, place your bets, if not, grab some popcorn, sit back and watch the fireworks. not long before the display gets underway.

26 Mar according to Morningstar.

The parasites are still sucking the blood from this. I need a few more so happy for them to try to escape before they’re trapped.