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The Guardian - UK

Business

Mark Sweney

UK oil firm Wood Group could leave London listing as it moves closer to takeover

Wood Group Wood Sidara London Oil United States

Mariner oil field in Aberdeen, Scotland — John Wood Group admitted in March that its financial results needed to be restated after a review found ‘cultural failings’. Photograph: Abermedia/Michal Wachucik/PA

Wood Group has come a step closer to becoming the latest company to leave the London Stock Exchange, after the board of the British oil services company said it was minded to accept a reduced takeover offer from a Dubai-based suitor.

Sidara, the Middle Eastern engineering company Dar Al-Handasah Consultants Shair and Partner Holdings, initially proposed a 35p a share offer in April.

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