16th Dec 2020 17:31
(Alliance News) - Garda World Security Corp on Wednesday said its cash offer for security services firm G4S PLC is being extended and will remain open for acceptance until 1300 GMT on January 6.
Last week, G4S agreed to be taken over by Allied Universal in a GBP3.8 billion deal.
Under the offer made by Atlas UK Bidco Ltd - which is indirectly controlled by Allied Universal - G4S shareholders will be entitled to receive 245 pence in cash for each share held. This values G4S at GBP3.8 billion and represents a 68% premium to G4S's closing price on September 11, the last business day before the offer period commenced.
The offer also represents a 4% premium to GardaWorld's rival offer of 235p per share, valuing the London-listed firm at GBP3.68 billion.
G4S shares closed down 0.5% at 253.80p Wednesday.
By Arvind Bhunjun; [email protected]
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