Wood Group rejects £1.4bn Sidara takeover proposal, citing 24% premium over Tuesday's closing price.
Wood Group, a London-listed engineering firm, rejected a £1.4bn ($1.8bn) takeover proposal from family-owned Sidara, describing the offer of 205p per share as a 24% premium on Wood's closing price on Tuesday. Sidara, formerly known as Dar Group, has until June 5 to announce a firm takeover offer or withdraw. This follows a similar instance last May when US private equity suitor Apollo Management dropped its proposed takeover of Wood.
May 08, 2024
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