John Wood Group: A Fresh Takeover Bid from Sidara

In a surprising turn of events, troubled engineering giant John Wood Group has found itself in the spotlight once again, this time with a fresh takeover bid from Dubai-based rival Sidara. Just 10 months after Sidara's previous attempt fell through, the engineering and consulting firm has returned with a new proposal, sending Wood Group's shares surging by over 33% in Monday afternoon trading.

The renewed interest from Sidara comes after a significant drop in Wood's share price, which has plummeted 80% over the past year. This decline in market capitalization may have made Wood Group a more attractive acquisition target for Sidara. However, the decision to return for a second takeover attempt also raises questions about the strategic fit between the two companies and the potential synergies that could be achieved through a merger.