Wood Group (john) Takeover Rumours (WG.)

Gargoyle2 I don't pay too much attention to the individual RNS by institutions much nowadays. They are not easy to follow, sometimes the forms are not filled in correctly, and I even know that, at least on some of the small caps, responsibilities under the Takeover Code, for example, are abused and not policed. I know this for a fact. Additionally, trying to judge someone's total exposure is near impossible with derivatives and hedging. They truly are pointless. My description of typical behaviour comes from 30 years of personal experience and that of well-respected others. With the latest RNS from the company they are obviously still interested so my description of behaviour up to this point is most likely to be in the right ball-park although no one can be certain.

I think Apollo pulled out after loads of bids were rejected? So six one, half a dozen of the other really...but water under the bridge now :) "Wood’s latest results follow Apollo’s failed attempt to take over the company, which knocked back five bids from the private equity firm. In May, Apollo ruled out making a sixth bid for Wood, after several months of pursuing a takeover of the business – including a final offer of 240p per share on April 4 – a 20 per cent premium on its trading price that day"

Given the number of shares the CEO has bought recently, I would think he's already pretty focused on improving performance and realising further value for shareholders. A takeover backons if he doesn't.

The fact remains that if you poo poo a takeover offer of £2.20 then you have to make bloody sure that the share price is above that 12 months later otherwise you were wrong.