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Stock impact report

Sparta Capital urges Wood Group to seek sale, rethink UK listing [Yahoo! Finance]

Jacobs Solutions Inc. (J) 
Last jacobs solutions inc. earnings: 2/4 06:40 am Check Earnings Report
Company Research Source: Yahoo! Finance
Wood Group to consider either selling itself or to reconsider its UK listing, according to a letter from the fund manager on Tuesday. Shares in the FTSE 250 company were last up 0.1% at 0915 GMT at about 142 pence. A representative for the hedge fund declined to comment on the letter and also declined to confirm how much stock Sparta Capital held in Wood Group. Wood Group also declined to comment. Wood Group's share price performance has not matched that of U.S.-listed engineering peers Jacobs Solutions and KBR , the hedge fund said in its letter to the company, published on Tuesday. In the last 12 months, Wood Group's shares have lost some 37% in value, compared with a 8.6% gain for KBR shares and a rise of 24% in Jacobs Solutions. "UK mid-caps have chronically underperformed global equities in recent years," Sparta Capital said. Wood Group's future, "could be best supported by different owners, and we urge you to undertake a strategic review and explore the best way to m Show less Read more
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