Aberdeen-based John Wood Group PLC has confirmed it has received an approach from Dar Al-Handasah Consultants Shair and Partners Holdings Ltd (“Sidara”) regarding a potential takeover. The company has advised shareholders to take no action at present.
Under the UK’s Takeover Code, Sidara must announce its intentions by 24 March 2025. There is no guarantee an offer will be made, and further announcements will be issued as necessary.
The potential takeover highlights the ongoing interest in the energy services sector, where companies like Wood play a crucial role in supporting global energy projects.
As the industry continues to evolve, strategic acquisitions can provide opportunities for growth and expansion.
However, the outcome of this situation remains uncertain, and investors will be watching closely for any developments.
For more information, investors can contact Wood’s Investor Relations or FTI Consulting. The full statement is available on Wood’s website.
