Wood Group Extends Sidara Takeover Deadline to April 17
Deal News | Mar 24, 2025 | Zawya
Wood Group, a British oilfield services and engineering firm, has extended the deadline for potentially being taken over by Dubai-based Sidara until April 17. Discussions were reinitiated last month after a halt due to Sidara's concerns over geopolitical risks and financial uncertainties. Sidara had previously valued Wood Group at around 1.56 billion pounds. Facing financial strain, Wood Group had forecasted negative cashflow, spurred by activist investor pressure and recent executive changes.
Sectors
- Oilfield Services
- Private Equity
Geography
- United Kingdom – The Wood Group is a British company headquartered in the UK.
- United Arab Emirates – Sidara is based in Dubai, making the UAE significant in this transaction proposal.
Industry
- Oilfield Services – Wood Group operates in the oilfield services industry, providing engineering and technical services.
- Private Equity – Sidara is involved with private equity dealings, attempting to acquire Wood Group.
Financials
- 1.56 billion pounds – The valuation of the takeover bid made by Sidara for Wood Group.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Wood Group | Target Company | Company | A British company in the oilfield services and engineering sector. |
| Sidara | Bidding Company | Company | A Dubai-based company interested in acquiring Wood Group. |