Wood Group (john) Share Discussion Threads

[chutes01] 20/3/2023 16:18

There will be no special divi, the time now is being taken to allow lawyers to smooth this fraud through, robbing LTH and putting Ferrari's in the hands of the incumbants.
A once in a lifetime opportunity for them to take the cash and run for the sun.
You can't keep the smile off their faces right now. 245p will see it complete.

[wendsworth] 20/3/2023 16:01

hamhamham1:Had 28/3 pencilled in for some time. WG is a recovery stock and Appollo knows it.

[hamhamham1] 20/3/2023 15:26

A 30p special divi would be nice if agreed to sell in mid 200s, I know it prob wouldn't work like that, buy hey ;)

[wendsworth] 20/3/2023 13:47

Quite content to hold. I'm anticipating very good Finals and possibly a Special Dividend declared.

[chutes01] 20/3/2023 13:36

Shareholder theft, as management fill their pockets and sail off into the sunset.
The great WG robbery.

[sundance13] 20/3/2023 08:23

Price down sharply again so far, market thinking bid won't go ahead due to all the financial turmoil out there perhaps?

[boozey] 19/3/2023 18:50

This is Private Equity. If this goes ahead it will be 240p give or take. We should take that and move on. Look how Hyve has been taken out on the cheap. We may not have heard the end of that one quite yet.

[hamhamham1] 19/3/2023 18:19

290.... would be nice.
And their ebitda and net debt would suggest that's doable. On the cheap frankly.

[wendsworth] 19/3/2023 16:10

Quote from Daily Mail Market Report yesterday : 'Talks over a possible takeover of JOHN WOOD GROUP will go on after the engineering group asked for its potential buyer to be given another month to table an offer. US private equity giant APPOLLO has had four bids rejected , including its latest offer of 237p a share. Its deadline to make an offer by March 22nd has been extended to 5pm on APRIL 19TH. Analysts at Jefferies said their 'upside scenario' would be an offer of 290p a share'.

[hamhamham1] 18/3/2023 12:46

A £2bn market cap would equate to approx 287p, maybe that's what the board got in their head when they say offers substantially undervalue the company?

[wendsworth] 18/3/2023 11:09

pogue : Irrespective ....with current market turmoil in the banking sector...SO pleased to be holding WG as my sole equity.Hence the doubling of my holding this week.

[pogue] 18/3/2023 09:16

They will not need to bid 10% more in my opinion the board are near to agreeing and Apollo have only been going up a few pennies each time in their bids. I personally reckon they won't have to bid more than £2.40 maybe a couple of pence more if we are lucky.
Robbery but what can you do.

[hamhamham1] 18/3/2023 08:36

Whar was their last bid 237p?
If it is just them, a 260p final offer would be poss? (ie +10%)

[pogue] 17/3/2023 18:24

Where we are just now is Apollo are the only bidder there is if there was another bidder they have shown their hand by now and the market would have already factored that in the price so the price being where it is now shows no chance of a bidder.
Apollo may put a few more pennies on their bid as they would be stupid not to as the price they are offering is a steal if you have any idea of the size of the problem in O&G regards capacity going forward and how much work needs done to meet coming demand.
I am assuming they will because they cannot be that stupid to lose such a bargain for a piddling amount of money.
All in my opinion and just pure speculation if you have an alterative viewpoint please give your reasoning.

[hamhamham1] 17/3/2023 15:00

Would be nice if today's RNS flushed out another bidder, say a rival rather than a PE.
Would certainly hit 300p in that case.
Anyway, the red light had been switched and she is showing her wares in the window now ;)

[chutes01] 17/3/2023 14:33

anything less than 300p utter theft from LT holders
Gilmartin and his cronies weighed in with incentives.
Shareholders sold down the river

[wendsworth] 17/3/2023 14:18

Gargoyle2: I have little doubt that, in the event that Apollo' bid is unsuccessful, their diligent preparations will ensure that they do not suffer 'a large loss'. Whatever....my view now is that a bid from whomever will succeed. On that basis , rightly or wrongly (!), I've doubled my holding today. As ever...time will tell.

[gargoyle2] 17/3/2023 11:43

I don't know why you think Apollo has been buying. If their bid isnt accepted, then they will be in for a large loss, barring another bidder emerging. Not usually how PE houses operate imo.

[wendsworth] 17/3/2023 11:11

ACTION : I'm in agreement with the sentiments expressed by Boozey post 1130 refers. The tree shake this week will have enabled Apollo to strengthen their position through further acquisitions.

[action] 17/3/2023 10:47

Deal or no deal ? Anyone?

[brucethegoldfish] 17/3/2023 09:42

Ayl30 - I suspect the delay may possibly be due to key resource needing to support the issue of results being the same key resource working in data room for due diligence. I’ve been there!

[sundance13] 17/3/2023 09:25

Yep still think 250p max and to be honest after the last week or so on the markets I would take that happily!

[sspurt] 17/3/2023 09:15

Agree that it looks like WG management now engaging in the process. Not as optimistic as to take out level as some on here but think todays announcement raises the chance of a successful bid being concluded.

[hamhamham1] 17/3/2023 08:08

Yep, I hope for something like 280-300p.
Depends on how keen buyer is, but WG wording certainly says make a good offer and let's see.