UK security firm G4S will be acquired by its North American rival Allied Universal in a £3.8 billion deal. Allied was the final winner in the months-long battle that saw other rivals such as GardaWorld also in the fray. Allied, backed by private equity firm Warburg Pincus and Canadian pension fund, Caisse de dépôt et placement du Québec, got the approval of 79 percent of investors for its 245p-a-share offer, which the G4S board agreed to in December.
The takeover “provides shareholders with an attractive premium, while securing the future success of G4S for employees, customers, pension scheme members and other stakeholders”, the UK group’s chairman, John Connolly, said in a statement. Once all the legalities are met, the FTSE listed company will move from the London stock market.
Source: Industry Leaders Magazine
By Anna Domanska
