A&O Shearman is advising Sidara on its recommended cash offer for John Wood Group PLC

The offer contains a number of exceptional conditions that are highly unusual for a transaction that is subject to the UK Takeover Code. These conditions include the publication of Wood’s audited accounts for FY24 with a clean balance sheet, as well as implementation of the agreements to extend Wood’s debt facilities. Such conditions, negotiated on behalf of Sidara, were only sanctioned by the Takeover Panel on account of Wood’s financial position and the parties’ desire to stabilize the Wood business.

Sidara is one of the leading privately held planning, design, engineering and project management groups worldwide. Now a global partnership, Sidara has more than 21,500 specialists operating across more than 300 offices and more than 60 countries through a five-pillar model comprising multi-disciplinary, architecture, project management, global infrastructure and energy. Sidara advises and supports some of the world’s biggest and most complex design and engineering projects.

Wood is a global consulting and engineering company operating across energy and materials sectors and is an established partner for operators across the sector.

In the near term, Sidara’s priority is to provide greater stability to Wood, bring financial strength to the business, and invest in Wood’s client relationships. Sidara hopes that the acquisition will help it to strengthen client relationships, expand into new markets, and serve a broader range of global clients.

The A&O Shearman team is led by London M&A partner Claire Coppel and global co-head of M&A David Broadley. The wider partner team includes David Weaver, Calum Burnett, Eve Giles, Jane Higgins, Paul McCarthy, Maura Rezendes, and Matt Townsend. The senior associate, associate, and trainee team includes Juliette Aliker, Chloe Bowskill, Huw Braithwaite, Max Brankin, Juliette De Freitas Vile, Daria Grigorieva, Ed Jackson, Victoria King, Mary Li, Paul McKay, David McMenamin, Robin Marshall, Maria Middleton, Charles Ng, Suzy Norman, Sophie Reid, and Benjamin Walker.