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The Latest Breaking News from Wood Group

UK oil firm fined £13m for repeatedly publishing inaccurate financial results

Wood Group’s ‘desire to maintain previously stated financial results’ influenced inaccurate reporting, says regulator

The Guardian - UK

Engineering giant fined £13m by financial watchdog over inaccurate accounts

The UK firm was sold to Dubai-based firm Sidara late last year for £216 million

The Independent UK

Wood Group fined £13m by watchdog over inaccurate accounts

The Aberdeen-based business published inaccurate information in financial results published in 2022, 2023 and 2024, the FCA said.

Evening Standard

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Wood Group boss steps down ahead of vote on £216m takeover

Ken Gilmartin said on Wednesday that he will depart as chief executive officer of the Aberdeen-based energy and engineering services firm.

Evening Standard

Wood Group to be bought for £216m by Dubai’s Sidara

The Aberdeen-headquartered engineering and energy services firm said Sidara will pay 30p per share.

Evening Standard

Wood Group to sell North American division for £81.5m

It comes days after Wood revealed a Dubai-based suitor for the group had reduced its takeover offer.

Evening Standard

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

FTSE 250 company, which employs 35,000 people, further extends deadline for Sidara to make firm takeover offer

The Guardian - UK

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Wood Group’s Dubai-based suitor lowers proposed bid

Aberdeen-headquartered Wood Group said it would be minded to accept a lowered offer at 30p a share.

Evening Standard

UK’s financial watchdog launches probe into troubled Wood Group

The Financial Conduct Authority’s probe will look into the period between January 2023 and November 2024.

Evening Standard

Huge Scottish engineering firm receives £242m takeover offer from UAE group

Troubled engineering firm John Wood Group has received a fresh takeover bid from Dubai-based suitor Sidara ...

The National (Scotland)

Wood Group receives £242m takeover offer from UAE’s Sidara

It comes almost a year after talks around a previous £1.56bn takeover approach from the Dubai-based network of companies collapsed.

Evening Standard

Wood Group warns over need to restate accounts after ‘weaknesses’ uncovered

The engineering firm said its full-year results would be delayed and it would likely have to suspend shares.

Evening Standard

Wood Group extends takeover talks with UAE suitor Sidara

Sidara now has until April 17 to come up with a firm offer or walk away.

Evening Standard

FTSE 100 treads water while Germany’s Dax makes gains after election

The UK’s blue-chip index dipped 0.39 points to close at 8,658.98.

Evening Standard

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The National (Scotland)

Huge Scottish engineering firm reveals new takeover bid from Dubai-based rivals

Troubled engineering firm John Wood Group confirmed that Dubai-based suitor Sidara has returned for a second takeover tilt ...

Evening Standard

Wood Group reveals fresh takeover approach from Dubai-based Sidara

The latest bid interest from Sidara comes after it walked away from a deal last August, blaming global market turmoil and geopolitical risks.

Evening Standard

FTSE 100 slips back after pound hits almost-two month high

The FTSE 100 finished 32.26 points, or 0.37%, lower to end the day at 8,732.46.

The Independent UK

Wood Group extends cost-cutting drive and cancels employee bonuses

The company, which has more than 6,000 staff in the UK, declined to comment on whether the savings plan would include job cuts.

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Evening Standard

Wood Group shares plunge as review of business launched

The engineering firm has hired Deloitte to carry out an independent review.

Evening Standard

FTSE 100 Live 07 November: Interest rates set to fall, BT and ITV shares under pressure

Interest rate decisions and a packed diary of corporate results mean another hectic session in financial markets.

Insider UK

Activists protest outside Wood headquarters

Cut The Ties campaigners seek to force a change in the way government loans are given to companies involved in fossil fuels

The Guardian - UK

UK firm given £430m green transition loan then expanded oil and gas business

Exclusive: Wood Group boosts fossil fuel business and shrinks renewables work after getting government-backed loan

Evening Standard

FTSE 100 live: FTSE closes at 7777.7; ‘UK markets shrug off global concerns’; WANdisco cash warning

Vodafone, Greggs, Boohoo, Landsec and Imperial Brands are in the spotlight during a busy session of corporate updates.

Birmingham Post

Kaefer turnover tops £230m following acquisition of fellow Tyneside industrial services firm

The Jarrow firm's parent company acquired Wood Group Industrial Services in an £80m deal

Evening Standard

Oilfield services firm Wood Group eyes new strategy as profit falls

The FTSE 250 engineering services company has plans to improve cash generation

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