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G4S Agrees Bid from Rival Allied Universal
10 December 2020
British Security Group G4S has accepted a £3.8 billion takeover bid from rival Allied Universal.
G4S has previously been targeted by Canada’s GardaWorld, in what the Financial Times called “a hostile takeover campaign”. After a 235p per share final offer from GardaWorld, Allied Universal’s bid values G4S at around £3.8bn, higher than the £3.7bn offer from GardaWorld.
The board at G4S unanimously rejected GardaWorld’s offer on the basis that it “significantly undervalues the company and its prospects and is not in the best interests of shareholders or other stakeholders.”
The merger will bring together two of the largest security operators, creating predicted revenues of approximately $18bn.
Picture: a photograph of a G4S employee wearing a branded high-vis jacket, holding a security radio. Image Credit: G4S
Article written by Ella Tansley | Published 10 December 2020
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