European Event-Driven Analyst

Jesus Rodriguez Aguilar

Jesús is an Insight Provider (Event-driven) on the Smartkarma network, where he looks across sectors at opportunities arising from securities mispricing (both credit and equity), share classes, bid announcements, prospective bids, and special situations. He has served as Economic and Business Advisor at the Spanish Congress in Madrid. Prior to that, he has worked in the City of London: as a Credit Analyst at Bloomberg; Event-driven associate at former boutique European Research; and doubled as Special Situations and Equity-linked VP (convertible bonds) at Merrill Lynch. Jesús has an MBA from the London Business School, a BA (Hons.) degree in Economics from the Complutense University in Madrid, and a BA (Hons.) in Law from U.N.E.D., also in Madrid.

Crude Realities: Risk and Reward in the Wood Group Offer

Sidara/John Wood: Awaiting a Sweetened Offer

Is Wood Group Primed for an Opportunistic Acquisition?

Event-Driven

<ul>
<li>Sidara’s 35p offer provides a 40% premium with no dilution, offering certainty and urgently needed capital, making it the most favorable path for shareholders amid financial distress.</li>
<li>A standalone capital raise of £342m at 20p would dilute existing shareholders by over 71%, highlighting the severe downside if the Sidara deal collapses or fails regulatory approval.</li>
<li>Having rejected Apollo’s 240p offer in 2023, the Board is now recommending a 35p bid—an 85% discount—after destroying credibility, mismanaging cash, and losing shareholder trust.</li>
</ul>


Sidara’s 35p offer provides a 40% premium with no dilution, offering certainty and urgently needed capital, making it the most favorable path for shareholders amid financial distress.
A standalone capital raise of £342m at 20p would dilute existing shareholders by over 71%, highlighting the severe downside if the Sidara deal collapses or fails regulatory approval.
Having rejected Apollo’s 240p offer in 2023, the Board is now recommending a 35p bid—an 85% discount—after destroying credibility, mismanaging cash, and losing shareholder trust.


Running on Fumes: Wood Group’s Last Shot with Sidara