Deals
G4S Agrees to Allied’s $5.1 Billion Takeover, Shunning Garda
- U.S. suitor gets board support after raising bid to 245p/share
- Allied trumps hostile takeover offer from Canada’s Garda World
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G4S Plc agreed to a 3.8 billion-pound ($5.1 billion) takeover bid from Allied Universal Security Services LLC, a deal that would combine two of the world’s largest security firms.
Allied raised its offer to 245 pence per share, trumping a hostile proposal from Canadian rival Garda World Security Corp., G4S said Tuesday. The British firm’s directors plan to unanimously recommend the deal to shareholders, which confirmed an earlier Bloomberg News report.