John Wood Group PLC (LSE:WG.), the engineering and consulting company, saw its shares surge 11% to 28.63p on Tuesday after the company confirmed its planned £216 million takeover by Sidara, the Lebanese engineering group, is on track to complete next week.
The two companies said all antitrust and regulatory conditions for the deal have now been satisfied, with a court sanction hearing scheduled for 6 March and completion of the acquisition expected on 10 March 2026.
The recommended cash acquisition was agreed in August 2025 and approved by Wood shareholders at a general meeting in November.
One condition remains outstanding, relating to the status of Wood's debt facilities, though the company noted this condition is currently satisfied and cannot be waived by either party.
If it is not satisfied immediately before the scheme becomes effective, the acquisition will automatically lapse.
Sidara, formally known as Dar Al-Handasah Consultants Shair and Partners Holdings, is acquiring the entire share capital of Wood through a court-sanctioned scheme of arrangement.