Member Info for Takayama

Sham89 - I don't doubt you, but just out of curiosity, can you cite some examples? I've a bit of free time and they sound like interesting stories.. TIA...

Cheers Denzil - they obviously had sight of the DD materials, then walked away, and despite having seen all the DD materials, they have decided to come back... . I'm guessing there was something else going on. It's impossible for anyone to really know that isn't on the inside. But I'd suggest that the FT likely captured the mood really well. They obviously have a very well placed source (who got his/her knuckles rapped indirectly on Monday after the boozy Monday lunch with his/her mate from the FT).

This is the FT's view just before the Sidara news broke on Monday: "Wood’s best chance of redemption would be to try to attract another bidder — even if it would now be at a knockdown price." It notes elsewhere that "Two potential suitors have declined to acquire Wood in recent years. The highest of these offers was from Apollo in May 2023, which valued Wood at more than £2.2bn including debt. After much to-ing and fro-ing, the US buyout group walked." - Was it just DD that made it walk? Or just the attitude of the board? And also of interest "Apollo had made a fifth cash bid for the Wood Group of 240p per share on April 4. Wood’s board said the bid undervalued the group and rejected it." Can you imagine the board being so arrogant? I can. This stuff happens and it doesn't lead to success.. . But of course, we know this time, the mood on the board is different. I'll flag the FT as an excellent paper and well worth the subscription... .

Appointment of CFO is a crucial part of the process to the RNS announcing the takeover price. This obviously had to happen first. He'll have a lot of work to do before any takeover price can be announced. I imagine no news until at least this time next week, likely nothing until mid to end March I reckon. As another poster suggested, if the board wants this to happen, then it will. The FT story that broke this on Monday suggested the board wanted this to happen.

There's a transfer of assets to Jim Mellon. We know Nav minus cash is still above zero. The cash reserves are being run down to zero to line the pockets of the board. Their strategy is to do nothing for three or four years, so investors slowly leave to keep the SP depressed so Mellon in the background picks up stock at bargain prices. When cash reserves are completely depleted, the remainder of the company is sold at a bargain price. Absolutely no strategy beyond that here.

Stupmy - It'll mean he's been offered a short term contract, probably 6 month at least.

BB - If your mate Putin has his way, no one will be allowed to call it a war - it's only a 'Special Military Operation', and for certain, he'll be able to manipulate things so it's deleted from our consciousness - at least, at pain of death, probably Novichok or some other similar death.... . Lol!

Mr Exec -The FT article is from Monday - It was the FT that broke the news. They've got a good senior contact within WG.

From the FT: "the board’s preference is to sell the company intact, two people familiar with the talks said, putting Sidara in pole position.

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." However Investors Chronicle speculates that there are likely to be lots of rival bids.

Good short prospect?

Sharebel- perhaps but sellers aren’t rushing out. Look at all the 8.3’s!!!

Although not marked as such, it appears to be a sell. I imagine it must be hard staying in if there's so so much happening elsewhere.

One sure sign of a company doing badly is releasing results late... .Not the case here. Really interesting to see... .

Pension investor - Lol!

It's a nice collection of 8.3s identifying actively interested investors who are unlikely to let the board get away with messing this up... .

And of course, Trump, with his 'Drill baby drill' added last November... . Geopolitical uncertainties relevant to the carbon industry abating.. .

Always good to see the chartists are on the side of a bull rally!!

Wow! Great RNS this morning!

Just a curiosity at this stage, it was actually the FT that rumbled the CFO: "Wood’s annual report and website described Balan as a chartered accountant. However, Balan does not appear on registers of chartered accountants in the UK or Australia, the bodies responsible for maintaining the registers told the FT.

The FT subsequently asked Wood Group where Balan was registered as a chartered accountant. The company declined to comment."

Sharebel - except for the fact that anyone wanting to buy the company has already factored in the debt in their offer price. Happened before, likely to happen again. What are the major issues with WG? (1) leadership - buyer will install their own. (2) change of market from carbon to renewable - Trump says 'drill, baby drill'. So we're all going to die b/c of climate change but we'll get rich on the way. (3) Debt - not an issue for so many reasons during a takeover. Risk of Rights Issue reduced in fact as a result of this approach.