UK oil firm Wood Group could leave London listing as it moves closer to takeover

FTSE 250 company, which employs 35,000 people, further extends deadline for Sidara to make firm takeover offer

• Business live – latest updates

Wood Group has come a step closer to becoming the latest company to leave the London Stock Exchange, after the board of the British oil services company said it was minded to accept a reduced takeover offer from a Dubai-based suitor.

Sidara, the Middle Eastern engineering company Dar Al-Handasah Consultants Shair and Partner Holdings, initially proposed a 35p a share offer in April.