9th Feb 2021 19:11
G4S PLC - security services provider - Allied Universal Security Services LLC's cash offer for G4S has been extended and remains open for acceptances until March 6.
In December, 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.
As of Tuesday afternoon, Allied Universal has received valid acceptances for 13.3 million G4S shares, about 0.9% of the company.
Current stock price: 261.00 pence
Year-to-date change: up 2.8%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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