Wood Group Investors Agree to Sidara’s Reduced-Price Takeover

John Wood Group Plc shareholders approved a takeover by engineering firm Sidara at a reduced price, ending a years-long saga for the UK energy-services provider.

Almost 90% of Wood investors agreed to Sidara’s offer of 30 pence a share, the company said in a filing Monday. The purchase price was 14% lower than the original bid after an independent review found “material weaknesses” in Wood’s books and regulators launched a probe.

Read More: Wood Group Says an Offer by Sidara Would Be at a Reduced Price

Wood has lost more than three-fourths of its market value since late 2023. The ...