Wood Group extends acquisition talks with Apollo
The deadline for acquisition talks between Wood Group and Apollo Global Management has been extended to 19 April from 22 March.
The decision by the Wood Group board comes after it declined Apollo’s fourth takeover offer on 7 March.
The new deadline will allow for Wood Group’s FY2022 results to be taken into account once they are published on 28 March. In its filing to move the deadline, Wood Group stated that “as announced on 12 January 2023, results for FY22 are in line with expectations.”
The new deadline requires that any takeover announcement must be made by 5.00pm on 19 April 2023.