G4S backs Allied Universal's final $5.4 billion offer

February 23, 2021

FILE PHOTO: Flags fly outside HMP Birmingham after the British government took over its running from G4S, in Birmingham, Britain August 20, 2018. REUTERS/Darren Staples/File Photo

(Reuters) – Private security firm G4S on Tuesday recommended shareholders to vote for Allied Universal’s final offer that values the British firm at 3.8 billion pounds ($5.35 billion), a day after a rare auction battle with Canada’s GardaWorld.

Allied Universal in a separate statement said it has extended its offer period deadline for the 245 pence per share G4S offer to March 16 and the acceptance conditional was lowered to 75% in nominal value and voting rights of G4S shares from 90% earlier.

($1 = 0.7107 pounds)

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