{"id":106921,"date":"2025-08-27T00:00:00","date_gmt":"2025-08-27T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/sidara-lowers-its-bid-to-acquire-wood-group-after-completing-due-diligence\/"},"modified":"2025-08-27T00:00:00","modified_gmt":"2025-08-27T00:00:00","slug":"sidara-lowers-its-bid-to-acquire-wood-group-after-completing-due-diligence","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/08\/27\/sidara-lowers-its-bid-to-acquire-wood-group-after-completing-due-diligence\/","title":{"rendered":"Sidara lowers its bid to acquire Wood Group after completing due diligence"},"content":{"rendered":"

UK-listed engineering firm Wood Group has given UAE-based Sidara more <\/strong>time to put <\/strong>forward a binding takeover bid, even as the suitor has <\/strong>trimmed its offer price <\/strong>after completing due diligence, it said in a <\/span>statement<\/a>. The new offer would see Sidara pay GBP 0.30 a share, valuing the firm at GBP 207.6 mn (USD 280.5 mn), <\/span>Reuters<\/a> reports. The reduced price is still a premium to Wood\u2019s last closing price of <\/span>GBP 0.18 per share<\/a>.<\/span><\/p>\n

ALSO- Wood reached an agreement with Sidara and its lenders on the terms of refinancing <\/strong>its maturing debt facilities.<\/span><\/p>\n

Wood still wants Sidara: <\/strong>Wood\u2019s board said it would still recommend the lowered bid to shareholders once Sidara submits a formal offer and both sides agree on the final terms of the acquisition.<\/p>\n

Background: <\/strong>Sidara had originally said in April that it would pay GBP 0.35 a share<\/a> for Wood, valuing the firm at USD 318.4 mn. The offer also included a USD 450 mn debt package. It marked a sharp drop from earlier proposals that valued the firm at GBP 1.6 bn before financial governance issues surfaced. <\/p>\n

The clock runs out tomorrow: <\/strong>The UK Takeover Panel extended Sidara\u2019s \u201cput up or shut up\u201d deadline to Thursday, 28 August, giving it until tomorrow to announce a firm offer or walk away. <\/p>\n

ICYMI- <\/strong>Wood has been the subject of an on-again, off-again takeover bid from Dubai-based Sidara for over a year<\/a>. After initially scrapping the bid, it returned to talks later and extended the deadline to submit a formal bid several times, with the latest extension giving them until 28 July. Talks have stretched on as the Financial Conduct Authority (FCA) launched a probe into Wood\u2019s accounts, forcing the firm to restate its 2022 and 2023 financials, leading to a temporary suspension of its shares and weighing on its valuation. <\/p>\n

OTHER M&A NEWS-<\/p>\n

Menzies Aviation completes G2 Secure Staff acquisition: <\/strong>Menzies Aviation, a subsidiary of ADX-listed logistics firm Agility Global, closed the acquisition of 100% of US-based G2 Secure Staff, according to a disclosure (pdf)<\/a>. The transaction wrapped at an enterprise value of USD 305 mn, plus a deferred USD 10 mn payment due in 2026 subject to performance. The acquisition was first announced<\/a> in April. <\/p>\n

Looking ahead: <\/strong>The transaction will add roughly 20% to Menzies\u2019 revenue, bringing group revenues above USD 3.1 bn based on FY 2024 figures<\/a>. G2\u2019s operations will be rebranded under the Menzies name, with integration already underway.<\/p>\n","protected":false},"excerpt":{"rendered":"

The \u201cput up or shut up\u201d deadline was extended to tomorrow<\/p>\n","protected":false},"author":1,"featured_media":106922,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2392],"tags":[813,7,1342,60,1734,1193],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-106921","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-agility","tag-enterpriseam-uae","tag-investment","tag-ma-watch","tag-menzies-aviation","tag-sidara","wpautop","entry"],"acf":{"mongo_id":"8764de72-f13b-4469-b8c2-e2981c6f7cf6","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/4\/853.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Sidara lowers its bid to acquire Wood Group after completing due diligence","related_issue":[106914],"teaser":"The \u201cput up or shut up\u201d deadline was extended to tomorrow","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/8\/.79acaa35-e96d-44f4-85e7-9a888d940760.mp3"},"yoast_head":"\nSidara lowers its bid to acquire Wood Group after completing due diligence - 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