Wood Group (john) Share Discussion Threads

[pogue] 24/3/2023 18:27

WP is very similar to Wood only market cap is just under 2 times the size. They do a lot that Wood does. It would match up therefore with what they have already not sure where they will get the capital to make a bid considering the state of the banking sector just now mind you.
Still say if there was any kind of truth in another bidder the price would be way higher just now.

[wendsworth] 24/3/2023 16:41

More 'meat on the bones ' regarding a possible additional bidder. It is thought to be an Australian American engineering company named Worley Parsons Ltd. Apparently the company trade under the name of Worley. Up until now the conjecture has been general and non specific. The story goes that Worley are looking for further acquisitions following a recent successful takeover of a division of Jacobs Energy. Worley are said to be waiting on WG's results before making any move.

I am not well versed in the industry so other posters may well be able to comment as to the credibility of this latest rumour...in particular whether Worley has 'deep enough pockets' and whether or not WG 'would be a good fit'.

Good time to be a holder?!

[gwillerz78] 24/3/2023 09:05

Sorry apologies. They said this 12th Jan

[gwillerz78] 24/3/2023 08:59

But they said when they announced the extension that they are in line with expectations?

[naplion] 24/3/2023 08:48

this is a no brainer that they are 100 percent sure that the result will exceed expectations as if they are the same or just a little above expectation it will not make much of a difference to the negotiations. they must be well exceed expectation.

[heialex1] 24/3/2023 08:39

Surely they are feeling confident of the results improving their negotiating position....

[wendsworth] 23/3/2023 23:04

The focus now has to be 28/03.If dividend is restored and there is a Special Dividend then holders will collect mid May. On the PE front interesting to note that of late acquisitions have been funded out of own cash and not as previously through low interest finance from the banking sector.

[hamhamham1] 23/3/2023 19:14

Sadly 250p is the likely strike price, folks the old shareholders and folks those who want to ride the share price higher coz its got a future, hence the bid.

[gargoyle2] 23/3/2023 17:01

250 would be a roughly 65% increase on the pre-bid price. The trouble is that you don't get many boards (or shareholders) who would turn that down, regardless of where they see the true value. The SNR board turned down a 200p offer in 2021, which I think will prove to be the right decision even though the share price is currently some way off that, but most boards don't have it in them to fight for a better deal. You can blame the board, but also the UK market, which often undervalues good companies. As a private shareholder, you just have to try to take advantage of that rather than rage against the machine imo.

[chutes01] 23/3/2023 16:46

yes, 250p would be legalised theft from LTH's
Directors sent packing with bags of wonga, not giving a hoot.

[kibes] 23/3/2023 16:24

Wood directors only 'minded to reject' 237p which suggests to me that some sort of sweetener would get the deal over the line. They haven't rejected it out of hand and have extended Apollo's time for consideration.

[angus mcoatup] 23/3/2023 12:49

Thank you.

[gargoyle2] 23/3/2023 12:08

19 April 5pm

[angus mcoatup] 23/3/2023 12:01

When is the PUOSU for Apollo?

[kibes] 23/3/2023 09:03

Apollo likely to come up with a hostile final bid to be put to shareholders around 250p I would think. Personally if so I would accept it. However, if the results next week are poor they will stick to 237p.

[pogue] 22/3/2023 18:18

Personally I think a rival bid is just the usual rumours that are always spread when there is a bid for any company. The P&J saying there maybe a rival bid at the beginning of this process and nothing has a appeared would suggest they knew nothing. The share price will tell you the likelihood of a rival bid and currently its indicating not. If it was closer to 237p, or better over it, then the chance of a bid was something the market was taking seriously.
DYOR all in my opinion.

[wendsworth] 22/3/2023 15:09

Gargoyle : South East share chat forum. Only posted because friends living in Aberdeen
have heard similar rumours of late. I understand the local paper ..The Press & Journal expressed a similar view when news of Appolo Globe and Management's approach broke. Smoke without fire?

[gargoyle2] 22/3/2023 14:56

Where did you see those rumours, wendsworth? A strong possibility imo -- another industry player would have more opportunity for consolidation and cost-cutting so should be able to offer more.

[wendsworth] 22/3/2023 14:42

Wouldn't normally post twice but...rumours of 'another party'. Credible? Unlikely prior to 28/03? There has been some strange movements in the share price in the last couple of weeks with a range of 227 - 193? Back up again today by some 7 points? Been in shares subject to takeover bids before ...Albright & Wilson, Pilkington, DBS Management , Xansa, Abbey National ..to mention a few...... but not experienced such movements particularly bearing in mind the current offer of 237p.If the rumours prove credible then the situation is likely to change dramatically and quickly. DYOR.

[wendsworth] 22/3/2023 14:09

packman8; Correct. Your linkage to results could prove significant.

[packman8] 22/3/2023 07:58

Deadline has already been extended to 19th April for release of results next week

[dipa11] 22/3/2023 07:45

"Any offer for Wood is governed by the Code. Under Rule 2.6(a) of the Code, Apollo must, by not later than 5.00 p.m. on 22 March 2023, either announce a firm intention to make an offer for Wood in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline can be extended with the consent of the Panel in accordance with Rule 2.6(c) of the Code."

[chutes01] 21/3/2023 16:29

this may still be stolen from shareholders on the cheap if the Insti's get the management onside by way of 'incentives'.

[wendsworth] 21/3/2023 16:25

chutes01: Very interesting times for holders who will be rewarded irrespective of the outcome of Appolo's schemes and devices. Holders can sleep easy as to the future with WG.