John Wood Group: Latest Proposal From Apollo Continues To Undervalue Group

John Wood Group PLC (WDGJF.PK,WG.L) said, on 6 March 2023, Apollo Global Management, Inc. submitted a fourth proposal for a cash offer to the Board, which values Wood shares at 237 pence per share. The Board believes the latest proposal continues to undervalue the Group and is therefore minded to reject. The Board of John Wood intends to engage further, on a limited basis, with Apollo.

On 22 February 2023, John Wood Group said it had rejected three unsolicited, preliminary and conditional proposals from Apollo, regarding a possible cash offer.

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