(RTTNews) - John Wood Group Plc. (WG.L, WDGJF.PK) announced that at its Court Meeting and General Meeting, shareholders overwhelmingly approved the recommended cash acquisition by Sidara Limited. The resolution to approve the Scheme of Arrangement passed with 89.07% of Scheme Shares voted for, and the special resolutions to implement the scheme also received strong support, with votes for ranging from 87.89% to 88.46%.
Completion of the acquisition is anticipated in the first half of 2026, subject to the satisfaction of remaining conditions, including regulatory approvals and court sanction. Wood will receive $250 million in interim funding and access a $200 million new money facility shortly.
On 29 August 2025, the boards of Wood and Sidara announced that they had reached agreement on the terms and conditions of a recommended all cash acquisition of the entire issued, and to be issued, ordinary share capital of Wood, to be effected by means of a Court sanctioned scheme of arrangement.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
