Wood Group agrees to Sidara's acquisition offer following a year-long effort.
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 29 2025
0mins
Should l Buy APO?
Source: Reuters
Wood Group's Conditional Takeover Bid
- Takeover Agreement: Wood Group has accepted a conditional takeover bid from Dubai-based Sidara valued at 216 million pounds ($292 million), concluding a year-long pursuit marked by multiple offers and rejections.
- Financial Details: The offer includes a price of 30 pence per share, with Sidara assuming $1.6 billion in Wood Group's debt and injecting $450 million in cash.
Conditions and Challenges
- Conditional Terms: The deal is contingent upon Wood Group publishing its delayed financial results and maintaining certain debt facilities.
- Audit Delays: Wood Group postponed its annual results due to an ongoing audit, which led to a temporary suspension of its shares.
Market Context and Valuation
- Bid Reduction: Sidara recently reduced its bid following a probe by the UK's Financial Conduct Authority into Wood Group's contracts and charges.
- Initial Valuation: At the start of 2023, Wood Group was valued at approximately 1.66 billion pounds when it first attracted takeover interest from various parties, including Apollo Global Management.
Financial Struggles and Strategic Moves
- Liquidity Issues: Wood Group has reported insufficient liquidity to fund operations and plans to implement further cost-cutting measures through 2025.
- Asset Sales: The company is selling its North American transmission and distribution engineering business for $110 million as part of its strategy to reduce debt.
Leadership Changes
- Board Statements: Wood's board has acknowledged the unsustainable nature of its current capital structure and views Sidara's offer as the best option for stakeholders.
- Chairman's Departure: Chairman Roy Franklin, who intended to leave once the company's future was clearer, will now exit after a court meeting scheduled for January 7, 2026, when shareholders will vote on the acquisition.
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Analyst Views on APO
Wall Street analysts forecast APO stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for APO is 162.77 USD with a low forecast of 136.00 USD and a high forecast of 186.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
13 Analyst Rating
12 Buy
1 Hold
0 Sell
Strong Buy
Current: 133.030
Low
136.00
Averages
162.77
High
186.00
Current: 133.030
Low
136.00
Averages
162.77
High
186.00
About APO
Apollo Global Management, Inc. is a global alternative asset manager and a retirement services provider. It operates through three segments: Asset Management, Retirement Services and Principal Investing. The Asset Management segment focuses on three investing strategies: yield, hybrid, and equity. These strategies reflect the range of investment capabilities across its platform based on relative risk and return. The Retirement Services business is conducted by Athene Holding Ltd (Athene), a financial services company that specializes in issuing, reinsuring, and acquiring retirement savings products designed for the increasing number of individuals and institutions seeking to fund retirement needs. Athene product lines include annuities and funding agreements. The Principal Investing segment includes realized performance fee income, realized investment income from its balance sheet investments, and certain allocable expenses related to corporate functions supporting the entire company.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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