{"id":118,"date":"2025-02-27T10:08:00","date_gmt":"2025-02-27T11:08:00","guid":{"rendered":"http:\/\/www.shotlow.com\/?p=118"},"modified":"2025-02-28T14:38:07","modified_gmt":"2025-02-28T14:38:07","slug":"wood-group-shares-surge-as-sidara-revives-takeover-interest","status":"publish","type":"post","link":"http:\/\/www.shotlow.com\/index.php\/2025\/02\/27\/wood-group-shares-surge-as-sidara-revives-takeover-interest\/","title":{"rendered":"Wood Group Shares Surge as Sidara Revives Takeover Interest"},"content":{"rendered":"

\"\"<\/a><\/p>\n

Engineering consultancy Wood Group<\/strong> has confirmed a fresh takeover approach from Sidara<\/strong>, less than a year after the Dubai-based firm abandoned its previous bid.<\/p>\n

The Aberdeen-headquartered company<\/strong> saw its shares soar by over 33%<\/strong> following the announcement, as investors reacted positively to the renewed interest.<\/p>\n

Sidara, which had previously walked away from a \u00a31.56 billion<\/strong> bid in August citing geopolitical risks and market instability, is believed to have returned due to Wood\u2019s falling share price<\/strong>. The FTSE 250-listed company has lost 80% of its value in the past year<\/strong>, now sitting at just over \u00a3200 million\u2014far below last year\u2019s valuation.<\/p>\n

Wood has also faced corporate governance concerns<\/strong>, with an independent review highlighting issues within its project arm, and its chief financial officer resigning last week<\/strong> after inaccuracies were revealed about his credentials.<\/p>\n

Sidara\u2019s new approach follows last year\u2019s failed \u00a31.68 billion bid<\/strong> from private equity firm Apollo<\/strong>, which was ultimately withdrawn after multiple rejections.<\/p>\n

Wood, which provides engineering, consulting, and management services across oil, gas, and mining sectors in more than 60 countries<\/strong>, has yet to confirm whether it will engage with Sidara over the new bid.<\/p>\n","protected":false},"excerpt":{"rendered":"

Engineering consultancy Wood Group has confirmed a fresh takeover approach from Sidara, less than a year after the Dubai-based firm abandoned its previous bid. The Aberdeen-headquartered company saw its shares soar by over 33% following the announcement, as investors reacted positively to the renewed interest. Sidara, which had previously walked away from a \u00a31.56 billion bid in August citing geopolitical risks and market instability, […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"_links":{"self":[{"href":"http:\/\/www.shotlow.com\/index.php\/wp-json\/wp\/v2\/posts\/118"}],"collection":[{"href":"http:\/\/www.shotlow.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.shotlow.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.shotlow.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.shotlow.com\/index.php\/wp-json\/wp\/v2\/comments?post=118"}],"version-history":[{"count":1,"href":"http:\/\/www.shotlow.com\/index.php\/wp-json\/wp\/v2\/posts\/118\/revisions"}],"predecessor-version":[{"id":119,"href":"http:\/\/www.shotlow.com\/index.php\/wp-json\/wp\/v2\/posts\/118\/revisions\/119"}],"wp:attachment":[{"href":"http:\/\/www.shotlow.com\/index.php\/wp-json\/wp\/v2\/media?parent=118"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.shotlow.com\/index.php\/wp-json\/wp\/v2\/categories?post=118"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.shotlow.com\/index.php\/wp-json\/wp\/v2\/tags?post=118"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}