10th Feb 2021 18:06
G4S PLC - security services provider - Garda World Security Corp's cash offer for G4S has been extended and remains open for acceptances until March 6.
GardaWorld subsidiary Fleming holds 24.1 million G4S shares, representing approximately 1.6% of G4S's issued share capital. In addition, has received valid acceptances of 25.1 million shares, also reflecting a 1.6% interest.
Last month, 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.
Current stock price: 263.10 pence
Year-to-date change: up 3.6%
By Dayo Laniyan; [email protected]
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