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Evening Standard
Evening Standard
Business
Holly Williams

Wood Group’s Dubai-based suitor lowers proposed bid

Wood Group Wood Dubai Sidara Aberdeen
Aberdeen-based Wood Group’s shares are currently suspended (Danny Lawson/PA) - (PA Wire)

Troubled Wood Group revealed its Dubai-based suitor Sidara has cut its takeover proposal to £207.6 million, but said it would be prepared to accept the reduced price.

The Aberdeen-headquartered engineering and energy services firm said Sidara had confirmed on Saturday it was “committed to making an offer”, but that any formal bid would be at the lower price of 30p a share.

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