Deals
Wood Group Reports Possible Offer of 35p a Share From Sidara
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John Wood Group Plc said it received a non-binding takeover proposal from engineering rival Sidara.
The approach comprises a possible offer of 35 pence a share in cash and a potential capital injection of $450 million, Wood said Monday in a statement. While work continues on alternative refinancing options, Wood’s board believes Sidara’s proposal represents the better option for shareholders, it said.