Under long-gestating deal set to complete in first half of 2026, Sidara will assume $1.6 billion of Wood Group debt and provide $450 million in cash for the financially strapped energy consultant.
U.K.-based energy and industrial services firm extends deadline for a firm offer from UAE-based Sidara or an end to discussions, as an audit of its accounting and corporate governance moves toward completion.
After rejecting three acquisition offers from Dubai-based AE consolidator Sidara, formerly Dar Group, energy-industrial services firm agrees to talks related to latest sweetened bid.
Latest acquisition offer from Sidara, formerly Dar Group, was its third in recent weeks but still "significantly undervalued" the energy specialist, it said.
Shares of Australia-based WorleyParsons rose 32% on Feb. 28, following the firm’s disclosure the day before that, last November, Dubai-based engineer conglomerate Dar Group had made an estimated $2.2- billion bid, which it rejected as undervalued.
