John Wood shares drop after CEO sells stake amid acquisition proposal
© Reuters
WG
-3.13%
Investing.com -- John Wood Group PLC’s (LON:WG) shares fell over 4.8% on Thursday as the British engineering services firm’s Chief Executive Officer Ken Gilmartin sold shares in the company.
According to a filing released after-market hours on Wednesday, Gilmartin sold 12,792 shares in the company on April 22.
John Wood Group recently said that Dubai-based Sidara had put forward a comprehensive, non-binding, and conditional offer, which also outlines the potential for a $450 million capital infusion.
The two firms had engaged in discussions last year regarding a potential bid but the talks were later abandoned.
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