“We will not overpay”: GardaWorld stands firm with final G4S offer

Security services firm GardaWorld has announced that it will not revise its latest offer to acquire G4S.

The company is set to stay firm with its previously announced offer of 235p per share to acquire the entire issued and to be issued share capital of G4S.

The offer, which was unanimously rejected by G4S’ board in December, will not be revised again according to the firm’s CEO.

Stephan Crétier, founder and CEO of GardaWorld, commented: “There can be no better owner for G4S than GardaWorld, but we are disciplined buyers and we will not overpay for a company with systemic ESG issues that continue to come to light.

“GardaWorld has the skills, expertise and ambition to take on the challenges that G4S faces.

“We understand the people-oriented nature of our industry, we have a deep understanding of complex operating environments and a successful track record of profitably growing businesses.”

The highest offer on the table now stands at 245p per share from US firm Allied Universal.