G4S to hold face-to-face acquisition auction talks

© Reuters.

© Reuters. FILE PHOTO: Stock photo of a G4S security van parked outside a bank in Loughborough

(Reuters) – British security group G4S (CSE 🙂 will hold talks with the city’s procurement panel, The Telegraph reported on Saturday, which could lead to a face-to-face auction between its North American peers GardaWorld and Allied Universal for the purchase of the company. . GardaWorld of Canada and Allied, based in the United States, last month extended their tender offer periods for G4S shareholders to accept their individual offers, even as the board of directors of the British company had already accepted Allied’s takeover offer. . GardaWorld was in talks to raise more money to sweeten its latest offering of 235 pence a share for G4S, The Telegraph reported https://www.telegraph.co.uk/business/2021/02/06/g4s-talks-head- to auction for the acquisition of heads, citing sources in the city. Allied’s bid is 10 pence higher. However, the Telegraph reported that the City expected GardaWorld to return well above Allied’s offer, and that G4S shares closed at 261.1 pence on Friday on the London Stock Exchange. G4S has restructured its business after a series of setbacks, and the bidding war between US and Canadian companies for the firm began when GardaWorld made its bid for G4S public on September 14.

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