Allied Universal to takeover G4S for £3.8 billion
Multinational British security services company G4S suggested its investors to vote in favour of the 3.8 billion pounds offer by Allied Universal Security Services.
Stock prices of G4S saw a jump after the bidding war between GardaWorld and Allied Universal intensified. Garda World offered 235 pence per share as its final offer while Allied University offered 245 Pence per share.
Garda World said justifying its offer that it would not pay excessively for a company facing environmental, social, and governance scandals.
Allied Universal has extended its deadline to March 16 with lowering the acceptance to 75% in nominal value and voting rights of G4S shares from 90% earlier.