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G4S says £3.8bn takeover by Allied Universal set for 'positive conclusion'
StockMarketWire.com
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Security G4S said its £3.8 billion takeover by Allied Universal is set for a 'positive conclusion' after rival bidder Garda World declared that its 235 pence per share offer was final.
'The price of the final Allied Universal offer [of 245 pence a share] is superior to the price of the final GardaWorld offer,' the company said. 'We are therefore unanimously recommending it to our shareholders ... [t]his paves the way for a positive conclusion to the offer period.'
The offer from Allied Universal represented a premium of approximately 68% to the closing price of 146 pence per G4S share on 11 September 2020, the last business day before commencement of the offer period, the company said.
Allied Universal has until 16 March 2021 to secure a 75% acceptance level from G4S shareholders.
Story provided by StockMarketWire.com
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