Wood Group (john) Share Discussion Threads

[dipa11] 05/4/2023 09:55

I think the way petrofac was down to 50 pence with help of shorter for price comparison with Wood group. Now petrofac have 13 billion euro contract and other projects in pipeline so share price s/b 125 pence plus for the timing.If the petrofac contract was not there then apollo was winning the bids Now time will tell?

[husbod] 05/4/2023 09:44

Pity they didn't go to 250p as it would have been a done deal at that price.No sign of a counter bidder although as A have stated that this is their final price if anyone else is lurking then they now know how high they have to go to succeed.

[pogue] 05/4/2023 09:41

dipa
read the RNSs the mood has changed from outright reject to near agreement at 237. 240s is the price the board were looking for judging by what they have said and presumably what they have been told to do by larger shareholders. Just because they rejected 237 does not mean 240 is not acceptable.

[dipa11] 05/4/2023 09:22

If board of directors rejected the bid for 2.37 gbp than 2.40 gbp is useless bid from apollo. As this is final proposal board may take further action to speak to stakeholders before rejecting If Wood group price undervalued than it is not harmful to rejecting. But they have to give some kind of confirmation for the rejection Good luck

[kibes] 04/4/2023 23:07

It's the best price they are going to get and a hell of a lot more than the 160p it will drop back to if rejected. It's a no brainer for shareholders in my opinion and the Board will not go against the majority.

[ayl30] 04/4/2023 20:45

As much as I think it's a low offer surely the board has to accept or they know price will drop back, probably to 160p which would be 30% off the 240p offer price.Think Appolo have played this well, just wish they had started at 340p !

[pogue] 04/4/2023 17:25

Latest RNS not a rejection going to think about it.....it's the right ballpark

[sundance13] 04/4/2023 16:22

I've sold as can't see board accepting it on back of a 3p increase only. Expecting confirmation possibly tomorrow and price to drop back to 150-170p range following this. May well buy back in when that happens.

[brucethegoldfish] 04/4/2023 16:14

Wonder if we will hear official BoD position today after close

[pogue] 04/4/2023 16:07

Doesnt mean they wont though. Extending the deadline and saying they were inclined to reject etc hinted they were close with the last bid.
Lets see, win win really. If it goes we get out of this company and can put the money elsewhere, if we lose eventually it will climb back up as the good ole 7 year oil cycle is just beginning by the look of it

[dealy] 04/4/2023 16:05

can Apollo go hostile ?

[brucethegoldfish] 04/4/2023 15:58

Market doesn’t think 240p will be enough for BoD to recommend offer.

[dealy] 04/4/2023 15:55

why such a big discount to the 240p bid?

[sundance13] 04/4/2023 15:48

Or they got fed up with the Board and have given them a take it or leave it offer. Board now accept low ball offer at 240, or face price dropping back 20% if they reject the offer.

[pogue] 04/4/2023 15:37

I think 240p was what the board wanted. WG indicated Apollo they were close last time so surely Apollo read the room correctly and put in the 240p knowing that was what would be expected.

[chutes01] 04/4/2023 15:36

tell them to walk, if board accept 240p then they have been bought off.

[inv] 04/4/2023 15:16

nor enough. Another bid from elsewhere at 275p coming

[sundance13] 04/4/2023 15:15

240p - challenging board to accept final offer or they walk away. Price dip suggests initial view of market is Board won't accept, but let's see.

[brucethegoldfish] 04/4/2023 15:12

Seems we now have confirmation in any case - 240p

[pogue] 04/4/2023 14:59

bruce
why do you think they will raise the price that far when all they have done before is a few pence? WG also seemed to be close to agreeing at 237p judging from the wording of the RNS why would Apollo goto 270 or higher?

[sundance13] 04/4/2023 14:58

No chance it'll be 300p, slightly improved sounds like less than 10p above previous offer to me so 245p roughly perhaps?

[brucethegoldfish] 04/4/2023 14:54

So you back in now chutes01 - make your mind up!

Think will be more like in range of 270-280p

[hamhamham1] 04/4/2023 14:52

Is that why the jump?