KEYFACT Energy
The Board of Wood notes recent speculation and confirms that it received an unsolicited, preliminary and conditional proposal from Dar Al-Handasah Consultants Shair and Partners Holdings Ltd ("Sidara"), regarding a possible cash offer to acquire the entire issued and to be issued ordinary share capital of Wood (the "Proposal").
The Proposal was received on 30 April 2024 and proposed an offer price of 205 pence per Wood share. The Board carefully considered the Proposal, together with its financial advisers, and concluded that it fundamentally undervalued Wood and its future prospects. Accordingly, the Board rejected the Proposal unanimously on 8 May 2024.
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