Wood Group rejects £1.52bn ($2bn) improved takeover bid from Sidara, citing undervaluation.
Oil services firm Wood Group has rejected a £1.52bn ($2bn) improved takeover proposal from Dubai-based Sidara, stating that the offer continues to undervalue the company. Sidara increased its latest bid to 220p-a-share on May 21 from a previous 212p, with a deadline of June 5 to make a firm bid. All three offers are above Wood Group's closing share price of 180p on May 23.
May 24, 2024
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