Oil services company John Wood Group rejects £1.4bn takeover offer
by Jillian Ambrose Energy correspondent from World news | The Guardian on (#6MNA9)
Aberdeen-based firm listed on FTSE 250 knocked back unsolicited approach from Dubai-based Sidara
The British oil services company John Wood Group has rejected a 1.4bn takeover offer from a Dubai-based rival, Sidara, which fundamentally undervalued" the company.
Aberdeen-based Wood is the latest British company on the London Stock Exchange to face takeover speculation amid deepening concerns that UK-listed stocks are undervalued compared with other markets.
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