G4S continues to resist GardaWorld takeover as Allied Universal makes new offer

Security services firm G4S has urged shareholders to resist GardaWorld’s attempts to take over the firm following a new recommended offer from a US firm.

The firm has announced that Allied Universal has made an offer of 245 pence in cash per share, and plans to issue further information with shareholders.

The news follows the announcement from GardaWorld at the beginning of December that it had raised its offer from 190 pence to 235 pence in cash per share.

Last month GardaWorld first made its unsolicited offer, which was deemed by G4S to “not remotely reflect G4S’s fundamental value”.

The revised offer has also been unanimously rejected by the G4S board, on the basis that “it continues to undervalue” the company, and the firm has continued to urge shareholders to take no action.

Commenting on the Allied Universal offer, Ashley Almanza, chief executive officer of G4S, said: “G4S has been transformed into a focused global leader in security services with market-leading solutions and a blue-chip customer base that is served by a dedicated and talented team of over 530,000 employees.

“The combination of G4S and Allied Universal creates the global leader in security with over 750,000 employees, industry leading capabilities and unrivalled market coverage.

“This unique and compelling combination will offer customers exceptional service and provides employees with an exciting future.”