G4S to carry talks for head-to-head takeover public sale
© Reuters. FILE PHOTO: File photo of a G4S security truck parked outside a bank in Loughborough
(Reuters) – British Security Group G4S (CSE 🙂 will hold talks with the city’s takeover panel, the Telegraph reported on Saturday, which could lead to a direct auction between North American colleagues GardaWorld and Allied Universal for the takeover of the company.
Canada’s US-based GardaWorld and Allied extended their buyout offer deadlines last month for G4S shareholders to accept their individual offers, despite the UK company’s board of directors having already accepted Allied’s takeover offer.
GardaWorld was in talks to raise more money to sweeten its final 235p per share bid for G4S, the Telegraph reported https://www.telegraph.co.uk/business/2021/02/06/g4s- talks-head-to-head takeover auction based on city sources. Allied’s offer is 10p higher.
However, the Telegraph reported that the city expected GardaWorld to return well above Allied’s offer, as G4S shares closed at 261.1p on Friday on the London Stock Exchange.
G4S restructured its business after a series of setbacks, and the bidding war between the US and Canadian companies began when GardaWorld published its offer for G4S on September 14th.
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