John Wood Group Rejects 220p/shr Cash Bid From Dar Al-Handasah Consultants Shair

(RTTNews) - Engineering and consulting firm John Wood Group Plc. (WDGJF.PK, WG.L) rejected a third proposal from Dar Al-Handasah Consultants Shair and Partners Holdings Ltd for a cash offer of 220 pence per Wood share saying that the offer still significantly undervalued the company and its potential.

The offer price represented a 3.8% increase from the previous offer of 212 pence per share on May 14, 2024, which itself was a 3.4% increase from the initial proposal of 205 pence per share on April 30, 2024.

As per the U.K. rule, Sidara must, by not later than 5.00 p.m. on 5 June 2024, either announce a firm intention to make an offer for Wood or announce that it does not intend to make an offer. The deadline can be extended with the consent of the Panel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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