John Wood Group Plc confirmed that it has received a fresh takeover offer from engineering company Sidara, after a previous approach last year ended without a deal.

Oil services and engineering firm Wood Group (OTCPK:WDGJF) (OTCPK:WDGJY) +30.5% in London Trading Monday after confirming it received a takeover approach from United Arab Emirates engineering and consulting group Sidara.

John Wood Group confirmed that Dubai-based suitor Sidara has returned for a second takeover tilt, less than a year after walking away from a deal. The Aberdeen-headquartered engineering consultancy said it had received an approach from Sidara, sending beleaguered shares rebounding by more than 33% in afternoon trading on Monday.

Britain's struggling oilfield services and engineering firm Wood Group has received a fresh approach from Dubai-based Sidara about a possible takeover offer after a failed attempt six months ago, both parties said on Monday.

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Oil services and engineering firm Wood Group surged on Monday following a Financial Times report that it has entered talks with Dubai’s Sidara about a potential takeover.