Member Info for WilyCoyote

'The Wood Group pension fund also owns 5% of WG stock. Selling to a private buyer means that money is gone forever '

5% is a small percentage - and the pension fund will get the same 35p as the rest of us - which they can use to invest in FTSE 100 companies - which are currently sitting on big losses because of the tariff wars - so I doubt the pension administrators are panicking

They will be sitting on bigger losses from those very same FTSE shares that will help them recover their losses on WG

Lots of posts here - as usual - so it's difficult to pick out salient points.

My question is:

Have ANY ii's spoken out on this takeover - and offered their opinion?

' this is all based on historical issues already ring-fenced'

LOL - that's why WG can't re-finance the debt - because all the issues are 'historical' - and 'ring-fenced' - it's a shame the potential financers aren't listening to you - rather than the board who know the true state of the company

'Where are all those ill informed posters stating a bid can't be below xx because Sidara had paid xx per share within the last 12 months.'

VulcanIgnis - I think applies to a company buying > 30% of the shares - they are then obliged to offer a bid for the remaining 70%

Wily, l thought in a hostile bid situation you only need 51%?

Haven't seen any reference to 50% - the only other significant number I have seen is 75% - which is the threshold to delist a company's shares in the event of a hostile takeover

Not sure if this helps - but it seems relevant:

'Under the Squeeze Out provisions set out in Sections 979 to 982 of the Companies Act 2006, if a buyer acquires 90% or more of the shares in a takeover, the remaining 10% (or less) of shareholders can be forced to sell their shares'

That would imply that even if 75% of current shareholders want to sell - they can't force anyone else to do the same.

They just sell - or agree to sell - their shares - and if the buyer gets 90% - they can FORCE the rest to sell

' I would actually rather wood told Sidara to jog on and go it alone'

That would be the logical reply to this apparently derisory offer - but if the board thought that the company was in a strong position - and re-financing was a viable option - why aren't they taking it?

It might well be that part of any re-financing deal was the replacement of senior figures on the board - which isn't a great deal - for the board at least

'why are Sidara not confirming they will pump several hundren Mill into the Company?'

because they are NOT pumping several hundred Mill into the Company - that will most likely happen as part of the re-financing deal - Sidara won't be putting money in directly

'Ice - FFS Rothchilds said this was the best option. Presumably you know more than them'

Ice is like those soldiers during ww2 - who were stuck on an island - believing the war was still taking place

They at least had the excuse of having no facts - data - or evidence - to form a more accurate view - not sure what excuse Ice has

'So nobody rejected a 230p bid.... when they pushed Sidara to make it formal and contractual....Sidara walked away'

It may well be that Sidara saw the misrepresentation in the accounts - pointed it out to the WG board - and then walked away knowing that a share price correction was coming. That correction was probably larger than even they anticipated - they probably couldn't believe their luck

'what’s actually changed fundamentally with business operations'

SMH - still waffling on about 'business operations' - it's about confidence in the board - it's about re-financing - that the WG board have basically admitted is impossible

'The fundamentals haven’t changed. My analysis still stands'

And yet the board of directors - and the market - say different SMH

You can have your own opinion - you CAN'T have your own facts

' I have to support icecool in his analysis based on the available fundamentals.'

But those 'available fundamentals' - were NEVER the true picture - making the rather naive assertion that the last 3 years of misrepresenting the accounts was 'historical'

And yet here we are - with many long term investors staring into the abyss - the abyss that some on here suspected was there all the time

' I will be in a four figure loss, which I can barely afford'

That IS disappointing - but pretty much the first rule for PIs is - 'Never invest what you can't afford to lose'

'Sidara laughing all the way to the bank...'

And at WG? - the only laughing there - is from their bankers - as the BOD try desperately to re-finance the company they have trashed

'Not a scenario a shorter would want. They have to close by Thursday.'

Do you think they are panicking?

'Once a big success story in the UK energy industry, Wood Group looks set to succumb to a pretty sorry end, although shareholders may be only too willing to draw a line at this point given the company's recent struggles.

Beggars cannot be choosers, and such is Wood Group's perilous position it has little choice but to accept what is on offer, particularly given Sidara is pitching a potential capital injection as part of the agreement.'

' Institutions will not accept 35 pence'

Institutions will accept the reality of the situation - whatever that happens to be be - but THEY will be in a far better position to know just how dire the financial situation is - because the institutions will be making THEIR views known to the board

'Let’s be clear: this wasn’t just a disclosure — it was a flare in the sky'

Even the UK's Border Farce would be reluctant to try a rescue in response to that flare - and they rescue ANYONE

But yes - the board are desperately hoping that by making this announcement - another bidder will be flushed out.

And the 450 million - that is the board telling any new bidder how damaged WG are - and the world how much of a mess they have made of this company

'it would include 35p for shareholders and a cash injection of 50p'

LOL - That 50p 'cash injection' is a mirage - it will be included in the re-financing - the re-financing that the WG board have failed to complete - because the city has no faith in them - their reputation is trashed.