Dar Al-Handasah Consultants Shair and Partners Holdings Limited cancelled the acquisition of John Wood Group PLC (LSE : WG.) for £1.5 billion.
Richard Perelman, James Robinson and Charles Oakes of J.P. Morgan Cazenove and Matthew Jarman, Tom Perry and Alex Smart of Morgan Stanley & Co. International plc acted as financial advisors to John Wood Group.
Dar Al-Handasah Consultants Shair and Partners Holdings Limited cancelled the acquisition of John Wood Group PLC (LSE : WG.) on May 23, 2024. The transaction was cancelled because Board believes that the transaction fundamentally undervalued Wood and its future prospects. Accordingly, the Board rejected the Proposal unanimously on May 15, 2024. Accordingly, the Board rejected the Proposal unanimously on May 23, 2024. As of May 29, 2024, Dar Al-Handasah Consultants Shair and Partners Holdings Limited has submitted its fourth proposal to Wood regarding a possible cash offer to acquire the entire share capital of Wood for 230 pence per share. This offer price is final.