Britain’s Wood Group Considers Rejecting Latest Buyout Proposal from Apollo Global

John Wood Group said on Tuesday it was considering rejecting the latest buyout proposal from private-equity firm Apollo Global Management Inc, citing that the offer undervalued the British oilfield services and engineering company. 

The proposal by Apollo on March 6, after Wood rejected three previous proposals, was a cash offer valuing the company at 237 pence per share, Wood Group said in a statement. 

(Reuters – Reporting by Muhammed Husain in Bengaluru; Editing by Sherry Jacob-Phillips)