Wood Group extends deadline for Dubai-based Sidara's takeover offer to August 9

Sidara had previously approached Scotland-based Wood Group thrice across May and June, taking the offer from 205 pence to 230 pence, which it had said would be its final offer

Prerna Bedi and Aatrayee Chatterjee, Reuters News

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UK's John Wood Group on Wednesday extended the deadline by which Dubai-based engineering and consulting firm Sidara would need to make a firm offer for the company to not later than August 9.

Sidara had previously approached Scotland-based Wood Group thrice across May and June, taking the offer from 205 pence to 230 pence, which it had said would be its final offer.

The first three offers were rejected by Wood over concerns around valuation and future prospects.

Sidara had received a deadline extension twice over June and July to make a final offer for Wood Group.

(Reporting by Prerna Bedi and Aatrayee Chatterjee in Bengaluru; Editing by Shailesh Kuber)

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