Scottish oil services heavyweight Wood has allowed a Middle Eastern suitor more time to decide whether it will make a firm did for the company.

Aberdeen-based Wood said Sidara has been given another four weeks to decide whether to commit to a bid that would value the firm at around £1.6bn.

Sidara had been due to decide by 5pm today whether to make a firm offer at 230p per share for Wood or walk away.

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The deadline has been extended until the same time on July 31 with the agreement of Wood directors and City of London regulators.

Wood said it agreed to the extension after Dubai-based Sidara said it needed more time to complete due diligence work on the company.

Wood added that there  can be no certainty that an offer will be made.