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John Wood Group PLC - Aberdeen, Scotland-based consulting and engineering firm - Says Dar Al-Handasah Consultants Shair & Partners Holdings Ltd, known as Sidara, has asked for more time to consider whether to make a formal bid for the company. As a result, the Takeover Panel has extended the put up or shut up deadline for Sidara until July 31. This deadline can be further extended by the board of John Wood, with the consent of the Takeover Panel. In June, John Wood received a fourth possible takeover proposal from Sidara last week worth 230 pence per share. Sidara has steadily increased its bid proposal after making an initial approach worth 205p per share which John Wood disclosed in early May.
Current stock price: 205.82 pence
12-month change: up 48%
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