Wood moves closer to £1.6bn takeover

Wood moves closer to £1.6bn takeover

Shares in the Aberdeen-based Wood Group rose by more than 3% yesterday after the firm moved closer to a potential £1.6 billion take over.

Following the Sidara’s fourth and final offer of 230 pence per share, Wood’s board said it has “decided to engage with Sidara to determine if a firm offer can be made on the same financial terms”. “The Board will grant Sidara access to due diligence materials,” it said in its latest statement.

Sidara has been given an extension until 5pm July 3 to make a bid for the firm.

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