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WYG open to merger as strategic review kicks off

WYG has launched a strategic review with a merger or sale among the options on the table.

In an announcement to the stock market this morning, the project management and consultancy company said the review would consider “whether there are options which could better enable WYG to take full advantage of its growth potential”.

In its statement, the company said: “The review will… incorporate a range of strategic options including a potential corporate transaction, such as a strategic partnership, a merger or acquisition to enhance the scale and breadth of WYG’s platform.”

WYG’s half-year report, released last month, showed a “strong growth in its project pipeline”, which it admitted has created “more opportunities than it can readily service directly using its existing model of organic growth”.

The decision to look at its strategy follows its financial restructuring in 2011, which the company said “achieved a turnaround in profitability”.

Its latest annual results show that WYG made a £1.3m pre-tax profit in 2013/14, having made a loss of £3.3m in 2012/13.

As a result of its announcement, the company is now considered to be in an ‘offer period’ according to the rules of the Takeover Code.

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