BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - John Wood Group PLC (WDGJF.PK, WG.L) said the Board has decided to engage with Apollo Management Holdings, L.P. to see if a firm offer can be made on the same financial terms as the final proposal. The Board will grant Apollo access to due diligence materials.
On 4 April 2023, Apollo, on behalf of certain investment funds managed by it, announced that it had submitted a fifth proposal to acquire the entire issued and to be issued ordinary share capital of Wood at a final price of 240 pence per share in cash.
Wood has requested and the Takeover Panel has consented to, an extension to the date by which Apollo is required either to announce a firm intention to make an offer for Wood or to announce that it does not intend to make an offer. Such announcement must now be made by not later than 17 May 2023.
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