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G4S plc: End of auction

22nd Feb 2021 08:22

RNS Number : 8724P
Takeover Panel
22 February 2021
 

2021/4

 

OFFERS BY

 GARDA WORLD SECURITY CORPORATION, THROUGH ITS WHOLLY-OWNED SUBSIDIARY FLEMING CAPITAL SECURITIES, INC.

("GARDA WORLD")

AND

ALLIED UNIVERSAL SECURITY SERVICES LLC, THROUGH ITS WHOLLY-OWNED SUBSIDIARY ATLAS UK BIDCO LIMITED

("ALLIED UNIVERSAL")

FOR

G4S PLC ("G4S")

On 12 February 2021, in accordance with Rule 32.5 of the Takeover Code (the "Code"), the Panel Executive announced (Panel Statement 2021/3) that the auction procedure set out in Appendix 8 of the Code (the "Auction Procedure") would be applied in order to resolve the competitive situation in relation to G4S.

Neither offeror had declared its offer final by 5.00pm on Saturday 20 February 2021 and accordingly the Auction Procedure commenced.

Garda World announced today that it would not increase its offer, which was declared final. Subsequently, Allied Universal has confirmed to the Panel Executive today that it will not revise its offer on Auction Day 1.

The Auction Procedure has now ended and the offers of Garda World and Allied Universal following its conclusion are as follows:

Garda World:

235 pence per G4S ordinary share in cash as set out in its offer announcement dated 2 December 2020

Allied Universal:

245 pence per G4S ordinary share in cash as set out in its offer announcement dated 8 December 2020

22 February 2021

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