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WG. Wood Group (john) Plc

1.50 (1.08%)
05 Dec 2023 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Wood Group (john) Plc LSE:WG. London Ordinary Share GB00B5N0P849 ORD 4 2/7P
  Price Change % Change Share Price Shares Traded Last Trade
  1.50 1.08% 140.10 878,428 16:35:10
Bid Price Offer Price High Price Low Price Open Price
141.10 141.30 141.50 138.00 138.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Engineering Services USD 6.32B USD -356.3M USD -0.5150 -2.74 976.88M
Last Trade Time Trade Type Trade Size Trade Price Currency
18:12:36 O 4,264 140.10 GBX

Wood Group (john) (WG.) Latest News

Wood Group (john) (WG.) Discussions and Chat

Wood Group (john) Forums and Chat

Date Time Title Posts
09/11/202307:04Wood (WG.) Charts only1,477
04/9/202312:51TipTV Market Roundup: Woods Group to underperform6
24/4/202001:14 *** Wood Group ***753
22/5/200808:02Wood Group: Charts & Fundamentals423
04/7/200410:25john wood group plc.187

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Wood Group (john) (WG.) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2023-12-05 18:12:55140.104,2645,973.86O
2023-12-05 18:12:55140.1092,349129,380.95O
2023-12-05 17:39:16140.7717,48524,613.63O
2023-12-05 17:21:27140.891,5892,238.68O
2023-12-05 17:13:31141.301,1411,612.19O

Wood Group (john) (WG.) Top Chat Posts

Top Posts
Posted at 05/12/2023 08:20 by Wood Group (john) Daily Update
Wood Group (john) Plc is listed in the Engineering Services sector of the London Stock Exchange with ticker WG.. The last closing price for Wood Group (john) was 138.60p.
Wood Group (john) currently has 691,839,369 shares in issue. The market capitalisation of Wood Group (john) is £976,877,189.
Wood Group (john) has a price to earnings ratio (PE ratio) of -2.74.
This morning WG. shares opened at 138p
Posted at 14/9/2023 15:04 by chutes01
Surprised there wasn't a huge shareholder revolt and backlash here following the price collapse after Apollo walked
Huge debt still exists after the sell offs, and interest being paid back has dramatically increased. It was meant to be debt free now, pure incompetence and large swathes of cash have been haemoraged.
Still, big Ken keeps lining his pocket each month as corporate nepotism goes into overdrive.
Not immune from bankruptcy here yet.
Posted at 04/9/2023 18:19 by iconista
Chutes! I've been waiting for you to signal another rise. If my theory holds, the next couple of weeks should see the price lift here.
Posted at 15/5/2023 08:37 by dipa11
Apollo Management Holdings confirmed it does not intend to make a takeover offer for John Wood Group. In April, the energy sector-focused engineering and consulting business said it would engage with Apollo to see if a firm takeover offer could be made on the same terms as its previous proposal. In early April, Apollo had proposed a potential offer of 240 pence per share in cash - a 59% premium to Wood's share price at the time.
Posted at 15/5/2023 06:39 by brucethegoldfish
I’m expecting between £1.60-1.70

Had sold down 2/3 of my holding during the series of increased offers from Apollo due to limiting further upside.

Still thought it more likely to get done than not, but hey ho!

Happy to hold remainder for the medium term (as was my original intention when buying in). If share price does depress below £1.50 then will look to accumulate again.
Posted at 11/4/2023 07:34 by loganair
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.
Posted at 28/3/2023 12:20 by dipa11
Walk away will be difficult for them as braking deal will they have to pay penalty.If they increasing the share price and company rejected then they can walk away. Will come to know by the 19th April 23.If they are serious then they will increase share price. 3 weeks and result will come to know
Posted at 23/3/2023 17:01 by gargoyle2
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.
Posted at 08/3/2023 07:02 by ashkv
Apollo’s fourth takeover offer ‘continues to undervalue’ Wood Group
Scottish company says board is ‘minded to reject’ US private equity group’s latest proposal

Ivan Levingston and Maxine Kelly in London YESTERDAY

Wood Group said it was “minded to reject” a fourth cash offer from Apollo Global after the energy services business previously spurned three bids from the US private equity group.

The sweetened offer would value the FTSE 250-listed company at 237p a share or roughly £2bn, a 3 per cent increase from its previous proposal of 230p a share.

“The board believes this latest proposal continues to undervalue the group and is therefore minded to reject [it],” Wood Group said in a statement on Tuesday.

The takeover attempts come as the Aberdeen-based company faces pressure from an activist shareholder to boost its share price.

Sparta Capital, founded in 2021 by former Elliott Management portfolio manager Franck Tuil, has called on Wood Group to buy back its stock to lift its valuation. The investment company has warned that Wood Group’s “significant undervaluation” makes it vulnerable to a takeover.

Apollo’s previous bid on January 26 offered 230p per share, a 55 per cent premium compared with Wood’s share price at the time and equivalent to approximately £1.9bn, taking net debt into account.

Wood Group shares gained more than 14 per cent to trade at about 222p per share during Tuesday morning trading in London.

The company’s “board will continue to engage with its shareholders and intends to engage further, on a limited basis, with Apollo”.

A representative for Apollo declined to comment.

The Scottish company provides consultation, management of assets and engineering services for the energy and materials sector, and recently expanded into clean energy projects such as wind farms. Its revenues last year rose about 8 per cent to $5.4bn.

Apollo is pursuing Wood Group at a time when the majority of FTSE 250 bosses believe UK-listed companies are vulnerable to foreign takeovers this year, amid growing expectations that mergers and acquisitions activity will pick up as economic conditions improve.

Another US fund, Providence Equity, has made a takeover approach for the London-listed exhibition company Hyve, a move that some top shareholders have called “opportunistic”.

Under the UK’s takeover regulations, Apollo has until March 22 to announce its firm intention to make an offer for Wood or walk away.
Posted at 27/2/2023 11:18 by ashkv
Wood Group/Apollo: oil services group cannot ignore bidders forever
After years of drift, Wood Group finds itself on the sonar of private equity

FEBRUARY 23 2023
Wood Group began life in offshore oil services as a part of a family fishing business. Four decades on, private equity investor Apollo Global has trawled the UK market and found some potential. Wood Group’s shares rose 30 per cent in one day after divulging that it had rejected three Apollo offers up to 230 pence per share. That price would value the group, using net debt estimates for 2023, at about £2bn. Apollo sees opportunity in a sad City tale of poorly timed acquisitions.

Until 2017, Wood Group had a history of successful bolt-on company purchases, most well under $200mn. Former chief executive Robin Watson then decided that a big acquisition would plump up Wood Group’s market value. In 2017, he bought AmecFosterWheeler, a mishmash of oil services and engineering businesses, for more than £2.2bn.

Amec had already tried a similar strategy in 2014 when it paid £1.9bn for US-based FosterWheeler alone, points out Mark Wilson at Jefferies. Wood Group’s was no more successful. The share price has fallen 72 per cent since the purchase.

New-ish Wood Group chief executive Ken Gilmartin would like time to right the vessel. Meanwhile, Apollo has another 28 days under takeover rules to decide whether it wants to proceed. Given Wood Group’s record, shareholders should be interested in further information about Apollo’s interest.

Apollo could pay more. Even at 230p, Wood Group trades at an enterprise value about 5 times its forward ebitda, a fifth below Italian peer Saipem. Wood Group’s clearest rival across all businesses is Worley of Australia, which trades at more than twice the ebitda multiple. It is possible that there are more parts of Wood’s sprawling business to divest. A year ago, it managed to sell its Built Environment consulting unit — formerly within FosterWheeler — for $1.8bn (£1.4bn), or 18 times ebitda.

After years of drift, Wood Group finds itself on the sonar of private equity. While Gilmartin is right not to sell cheaply, he has yet to provide a compelling vision. Shareholders’ patience will wear thin if no engagement with bidders occurs.
Posted at 15/12/2022 11:44 by ashkv
he scene is set for Wood to show that it cares about its long-suffering shareholders

At the CMD you have set out a compelling case for the business. With this wealth of information now public, you have provided the perfect backdrop to reset your capital allocation priorities and deploy a buyback

As we advised in our discussions, we strongly believe that nothing will affirm your belief in "New Wood" and its ability to generate steady operating cash, more than putting some of that cash to work in buying back your own shares. We have shown that in our view, you generate over $270m of surplus capital by Dec-24; putting even a portion of this to work in short order via a buyback is highly accretive and makes good business sense. Furthermore, the signalling impact of any such action cannot be underestimated:

1) It robustly underscores your belief, evident at the CMD, that Wood is now operationally and financially on a strong footing;

2) You enjoy structural tailwinds in your business which along with your order book, de-risks your outlook;

3) With your shares trading at a c.50% discount to peers,[18] with your organic investment needs already prioritised, it is manifestly a highly accretive capital allocation course to pursue; and

4) It would return some stability to your share price reducing Wood's beta from its currently unwarranted 1.7.[19] Using a beta of 1.7x delivers a DCF fair value of c.235p, vs a fair value of c.330p using a beta of 1.3, an improvement of over 40%.[20]

We would like to continue our discussions with you, the CEO and the CFO at the earliest possible opportunity.

Above all, we strongly encourage you to expedite your capital allocation policy, signal the confidence you have in the cashflow generating qualities of your business and take advantage of the cheapness of your shares, creating value for all holders and closing the door to perhaps unwanted, opportunistic interest the share price under-performance will have undoubtedly garnered.

For our part, now that our views are in the public domain, we will use the next few weeks to canvass opinion from our fellow shareholders. To that end, we encourage shareholders and other stakeholders to reach out to us directly at
Wood Group (john) share price data is direct from the London Stock Exchange

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