Wood Group (john) Share Discussion Threads

[ayl30] 14/4/2023 07:20

So no news today. Clock ticking , crunch time Mon/Tues

[wendsworth] 13/4/2023 10:09

Gargoyle and pogue : Looks like it.

[gargoyle2] 12/4/2023 23:33

8 days since 240 was mooted -- and still no rejection. Well over a month since the board was 'minded to reject' 237 but said that it would engage with shareholders. Surely this is going though, isn't it? Given the recent capital markets day and the detail given regarding the board's strategy going forward, shareholders must have a good sense of what the value is. If they haven't rejected 240 by now, my view is that a deal will be done at this price.

[pogue] 12/4/2023 16:24

A move back to the 220s would indicate to me that the Apollo bid is more likely to be accepted. For the mystical white knight rumor to be true the price would need to be over the Apollo offer I suggest otherwise the Apollo offer could be driving the price.

[wendsworth] 12/4/2023 14:30

SP moving UP to 218 on the offer. In anticipation ?

[wendsworth] 11/4/2023 18:44

Tight spread today. If a sector white knight is to come to the fore a move will presumably be have to be made by 18/04? Should that prove to be the case then a move up back into the 220s later this week could be indicative . As all previous RNS's relating to Appollo's interest have been subject to sharp moves the day prior there would appear to be 'a leaker'.

[loganair] 11/4/2023 08:38

Apollo believes that the Final Proposal would provide a compelling opportunity for Wood's shareholders to monetise their holdings in Wood for cash at a highly attractive valuation which is also at a significant premium to its recent and undisturbed share price, eliminating the inevitable execution risk and uncertainty associated with delivering Wood's refreshed strategy.

[loganair] 11/4/2023 08:34

How many times have I heard a board of directors say that the bid undervalues their company, reject the bid to only find a few years later for the share price of that company to be lower than before the bid was made in the first place.

Just look at Sainsbury's, the board at the time rejected a bid from the QIA of 600p per share saying the bid undervalued the company. Since then, over the past 10 years the Sainsbury's share price has averaged around 280p, therefore the 600p bid actually way overvalued Sainsbury's and not undervalued it.

[pogue] 11/4/2023 08:18

They were off to talk to the share holders according to the RNS, that maybe the delay. I assume its not us though just the bigger more activist ones.

[gargoyle2] 11/4/2023 08:05

Still no rejection of 240p a week after the offer was made.. a sign that the board is engaging with Apollo for a deal at that price?

[wendsworth] 10/4/2023 15:03

pogue: Understood. Noted.

[pogue] 08/4/2023 11:33

wendsworth
I cannot give opinions on how people should invest I am not a financial advisor. I only post my opinions on what is happening to provoke others to agree or contradict so I can test my thoughts on this share and get a debate going. I dont ramp or deramp only post what I am thinking sometimes positive sometimes negative but always my viewpoint nothing more.

[wendsworth] 08/4/2023 11:00

pogue : Thanks for your post at 1273. You are , in my mind, a respected poster. With that in mind , together with your sector knowledge, I'm tempted to take a small position in PFC. Your view would be valued.

[pogue] 06/4/2023 11:11

bit late now to try and get the bid up, Apollo are at take it or leave it stage. You would have assumed the board would already have indicated the price they would deal at or at least given clues.

[forwood] 06/4/2023 10:52

If I was the board, I'd be negotiating with Apollo soon, something along the lines of 'we'll support a bid at 260', and settling for 250

[angus mcoatup] 05/4/2023 20:30

I found what I thought was a dead bird lying on its back, which had apparently hit a window. Upon inspection I noticed it was barely breathing. I placed it in a napkin, carefully moved it out of the sun and then spoon fed it water with initially no response. My nearly four-year-old daughter asked 'Why is he not happy?' Together we continued to nurse him with fruit juice using a small spoon to which it eventually responded by opening his eyes. We fed it every 15 min or so thereafter. After about 90 minutes, he flew off. Helping a small creature survive is an incredibly moving experience, particularly alongside a child. If you are given such an opportunity, I would encourage you to take advantage of it.

[chutes01] 05/4/2023 18:54

pogue, you need to stop running your mouth here
As an Eng contractor you are not at all best placed to comment on where any T/O will occur, you are a financial hazard to other investors talking your own book.
Now give it a rest son.
You are not qualified to offer this kind of advice, and anything you comment on should come with a wealth warning.
My offer to meet with you in town still remains.
Unless management here have been paid off, this cannot go through at less than £3.

[pogue] 05/4/2023 18:44

The price is rising now I think the market is expecting a deal at 240p

wendsworth
apologies if it wasnt you who said there would be a bid after results I put all the 'there will be a bid' posters into one box in my head.
The contractor sector is always highly cyclic has been in all the years I have worked in it. A takeover at the bottom of the cycle is unusual infact a buyer outside the sector is even more unusual, most takeovers are at the top of the market by other contractors and the buyers regret it after, Wood being one of the buyers buying at the wrong time.

[wendsworth] 05/4/2023 13:05

pogue: As stated previously , the Worley interest sources were Aberdeen based supported by some posters on the SE BB. It's fair to say others will thus have reasoned or 'postulated'. I've merely posted their comments. As for Appollo it is fair to say that in my 43years of investing in the market I've not come across a takover situation akin.

You could well be proved right. I wouldn't argue with your logic. It's clear that Appollo have been working on their Wood investment strategy for some time ...certainly since the turn of the year and could well have, indeed almost certainly, have taken soundings of large shareholders. Appollo are PE pure and simple. The sector on the other hand is something else. The recent developments in the PFC scenario has demonstrated that. Worley is ambitious and acquisitive. WG is a rare opportunity for them. As ever ....time will tell.

[pogue] 05/4/2023 12:43

wendsworth
you postulated before that WPO would bid when results came out, hasnt happened. I feel you are grasping at straws. Why would WP bid 270p anyway if by some miracle they suddenly appeared now? It looks like the large shareholders will take 240p as its clear that is where Apollo have been directed over the last few bids by WG.

[wendsworth] 05/4/2023 12:39

pogue: One of the many reasons why I'm invested in WG is the pretty sensible and sector knowledgeable posters on the associated BBs. I appreciate yours , and others , reasoned comments regarding the likelihood of 'another bidder'.

If the rumours regarding Worley have substance then sometime over the next fortnight would be an ideal time for them to move. The timing couldn't be better. The rumoured 270p would doubtless win the day. I was surprised by Appollo's move yesterday. A cynic might take the view that Appollo never intended to finalise the deal but instead aimed to smoke out another bidder thereby making a killing 'without strings' on the shares they've mopped up from weak holders ????????? !!!!!!!

[pogue] 05/4/2023 10:11

Husbod
241 if someone wants to bid higher to win it. Not betting on another bidder coming in but I have not betted on that for a while as they would have surfaced long before now.

[pogue] 05/4/2023 10:04

240 is including a few big contract wins from where the price was pre bid. Still a steal if you assume the contracting market is about to experience a big upturn as I do but it is what it is, this is what happens to companies with bombed out share prices.