Sidara notes the announcement made by Wood and confirms that on 30 April 2024 it submitted a proposal to Wood regarding a possible cash offer to acquire the entire issued and to be issued ordinary share capital of Wood of 205 pence for each Wood share.
This non-binding proposal was rejected by Wood on 8 May 2024 and Sidara is considering its next steps.
Sidara is one of the largest planning, design, engineering and project management groups in the world. With an important and substantial presence in London, Sidara has approximately 20,000 employees across 60 countries, with almost half of its revenues originating from North America. Sidara has a strong focus on value discipline and returns, and has a track record of growing acquired businesses.
Further announcements will be made in due course as appropriate, but there can be no certainty that an offer will ultimately be made. Further information on Sidara is also provided below. Sidara reserves the right to vary the form and / or mix of the consideration of any offer that it may ultimately make for Wood.
Sidara reserves the right to reduce the offer consideration by the amount of any dividend or any other distribution or return of value to shareholders which is paid or becomes payable by Wood to its shareholders following the date of this announcement.
Source: Sidara
