Wood Group agrees to engage with Sidara for a final £1.6bn takeover bid at 230p per share.

Wood Group agrees to engage with Sidara on a final takeover bid, valuing the company at around £1.6bn. Sidara, a Dubai-based engineering firm, has increased its proposal to 230p per share after previous bids were rejected. Wood Group will now grant Sidara access to due diligence materials to determine if a firm offer can be made on the same terms.