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G4S to issue formal response outlining reasons for rejecting GardaWorld offer
StockMarketWire.com
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Security company G4S said it would be writing to shareholders within the next 14 days outlining its reasons for recommending that shareholders reject a 190p-a-share offer from GardaWorld.
The timing of GardaWorld's offer was 'highly opportunistic, and the offer continues to significantly undervalue the company when assessed across a number of measures including historic performance, trading and transaction multiples and on fundamental and intrinsic value,' G4S said.
'We believe that GardaWorld needs G4S in order to realise its aspirations. This should not be at the expense of G4S's shareholders and other stakeholders,' it added.
Story provided by StockMarketWire.com
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