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LONDON - John Wood Group (LON:WG) PLC (Wood), a global engineering and consulting company, confirmed on Monday that it has received a preliminary takeover approach from Dar Al-Handasah Consultants Shair and Partners Holdings Ltd (Sidara). The announcement follows recent speculation in the media regarding a potential offer for Wood’s issued and to be issued share capital.
Wood has advised its shareholders to take no action at this stage, as there is no certainty that any firm offer will be made or on the terms of any potential offer. The company will make further announcements when appropriate.
Sidara has until 5.00 p.m. on March 24, 2025, to either announce a definitive intention to make an offer in accordance with the City Code on Takeovers and Mergers or to declare that it does not intend to propose an offer, as per the Code’s regulations. This deadline may be extended with the consent of the Panel on Takeovers and Mergers, if necessary.
The announcement contains inside information, and as such, it is now publicly disclosed in compliance with the Market Abuse Regulation, ensuring that this information is available to all market participants simultaneously.
Wood Group, which operates in various sectors including oil & gas, environment and infrastructure, clean energy, and mining, has not disclosed any further details about the potential offer or the approach by Sidara.
The London Stock Exchange (LON:LSEG)’s news service RNS, which is approved by the Financial Conduct Authority in the UK, has distributed this information. Shareholders and interested parties are reminded that the content of Wood’s website referenced in the announcement does not form part of this press release statement.
Investors and market watchers will be closely monitoring the situation for any developments regarding the potential acquisition, which could impact Wood Group’s market position and future operations.
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