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08 Mar 2021 | 09:44

GardaWorld extends G4S offer deadline

(Sharecast News) - Canada's GardaWorld has extended the deadline for shareholders to accept its £3.68bn offer for G4S. The offer will now remain open for acceptance until 1300 GMT on 16 March, the same deadline for a competing bid from Allied Universal. The original deadline was today.

G4S has rejected GardaWorld's 235p per share offer in favour of a competing bid from America's Allied Universal.

The security outsourcing specialist said on Monday: "The board unanimously recommends that shareholders accept the superior final offer from Allied Universal of 245p per share, and in order to ensure the successful closing of the Allied Universal offer, urges G4S shareholders to accept immediately."

The offer from Allied Universal, made in December, values G4S at £3.8bn. The London-listed firm has previously said it believes there is "no better" owner for it than Allied Universal.

G4S said on Monday that GardaWorld - which has declined to match Allied Universal's higher offer - had received 0.06% of acceptances as at 1300 GMT on 6 March, and held around 1.55% of the issued share capital.

G4S employs around 530,000 people across 85 countries and runs four British prisons, as well as providing security for private clients, including the new Hinckley Point C nuclear Power station. It is also currently managing a number of Covid-19 test centres across the UK.

As at 1100 GMT, shares in G4S were largely flat at 241.97p.
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