News in Brief

Allied Universal Wins Battle for G4S

Allied Universal has offered 245 pence in cash for each G4S plc share and agreement on the terms of the offer have been reached. This values the company at £3.8 billion, representing a premium of about 68% to the closing price of G4S shares on 11 September 2020, and an 11% premium to the highest closing price in the previous year. GardaWorld had offered 235 pence per share, some 4% less. G4S Directors intend unanimously to recommend that their shareholders accept the offer.

A joint statement announced the news,stating that the two companies combined will have revenues of approximately $18 billion and ‘a strong international platform and an extensive portfolio of blue-chip clients across the public and private sectors.’ The new business will employ over 750,000 people.