Wood Group likely to recommend takeover sparking delisting fears London-listed engineering and consulting firm Wood Group said it is likely to recommend a takeover by Middle Eastern-based privately owned company Sidara sparking another potential delisting from the London Stock Exchange. Wood said on Monday that Sidara, formerly known as Dar Al-Handasah, had expressed interest in acquiring the group with a 35p per share deal. [...]
Wood Group shares soar following £242m Sidara bid Business Wood Group shares soared more than 13 per cent on Monday after the announcement of a £242m takeover bid from the UAE’s Sidara. The stock clawed back significant ground in early trading after a torrid start to the year that has seen it drop nearly 60 per cent amid concerns over Wood Group’s governance and [...]
Wood Group shares plunge as Deloitte review finds ‘material failures’ Business Wood Group shares have plunged 31 per cent in early deals this morning after a Deloitte review identified “material weaknesses and failures” across the business. The firm said it is initiating steps to “significantly” strengthen its financial culture, governance and controls after a review In a trading update, the London-listed engineering giant also announced plans [...]
Wood Group shares slump as it launches write-offs review November 7, 2024 Wood Group shares nosedived 55 per cent today after the engineering firm unveiled a Deloitte-led review of its operations, sparking investor concern. The review, launched in response to recent large-scale project write-offs, will assess the firm’s contract accounting and governance. It may also potentially lead to financial restatements. The review was announced alongside a trading [...]
Wood Group: Firm offloads two businesses as ‘strategic’ turnaround begins August 28, 2024 Engineer Wood Group has sold two businesses for a total of $165m (£125m) after it revealed it slid into the red in the first half of the year. The London-listed firm, which is headquartered in Aberdeen, said today it has sold its stake in Ethos Energy Group, a joint venture with its partner, Siemens Energy [...]
Revenue slides at Wood Group after Sidara snub but guidance kept August 20, 2024 Engineer Wood Group maintained its full year guidance despite sliding into the red after a dip revenue in its first set of results since Emerati competitor Sidara pulled out of a deal for the firm at the eleventh hour. The Aberdonian firm, which generates much of its revenue providing engineering services to the oil and [...]
Wood bags six-year contract on Shell’s Prelude facility July 9, 2024 Wood, headquarted in Aberdeen, said it would provide brownfield engineering, procurement, and construction management (EPCm) solutions for the LNG facility.
Wood Group engages with Sidara on latest takeover bid, extends offer deadline June 5, 2024 Engineering and consulting company John Wood Group has said it is engaging with Sidara after the Dubai-based rival submitted a fourth and "final" bid for the FTSE 250 firm.
Wood Group mulls fourth and ‘final’ takeover bid from Dubai-based Sidara May 29, 2024 Dubai-based engineering and consulting firm Sidara has submitted a fourth and "final" takeover proposal to Aberdeen-based rival John Wood Group.
Wood Group rejects latest takeover bid from Dubai-based suitor Sidara May 24, 2024 Energy services firm Wood Group has rejected a third bid from Dubai-based suitor Sidara today on the grounds it “significantly “undervalues the firm.