Personal Finance. Money. Investing.

G4S Asks Investors to Reject GardaWorld Takeover Bid

The UK security company has urged its investors to take “absolutely no action” on the Canadian buyer’s offer.

Posted: 19th October 2020 by Finance Monthly
Share this article

Amid a hostile takeover bid by rival GardaWorld, British security firm G4S has asked its investors to reject the Canadian company’s offer, which was sent to shareholders on Saturday.

"The board recommends that shareholders reject the offer and take absolutely no action," G4S said in a statement, adding that the timing of the offer was “highly opportunistic.”

GardaWorld’s 190-pence-per-share offer remains unchanged from when it first approached G4S in September. The company accused G4S directors of refusing to engage after their dismissal of the $3.9 billion offer, then issued the offer directly to G4S’s shareholders.

At the same time, an official offer document released by GardaWorld on Saturday revealed that it stands to make up to £312 million in fees if it successfully gains shareholders’ support for its takeover bid.

G4S revealed last week that it had also been approached with a takeover offer from US firm Allied Universal Security Services. The company has not yet made a formal offer.

G4S employs a workforce of around 530,000 across 85 countries. Its personnel guard prisons, embassies, justice services, stadiums and sport and music events, and were contracted to provide security for the 2012 London Olympics.


Following the initial September takeover bid from GardaWorld, in which private equity firm BC Partners owns a 51% stake, G4S’s share price has surged by 38%.

About Finance Monthly

Universal Media logo
Finance Monthly is a comprehensive website tailored for individuals seeking insights into the world of consumer finance and money management. It offers news, commentary, and in-depth analysis on topics crucial to personal financial management and decision-making. Whether you're interested in budgeting, investing, or understanding market trends, Finance Monthly provides valuable information to help you navigate the financial aspects of everyday life.
© 2024 Finance Monthly - All Rights Reserved.
News Illustration

Get our free monthly FM email

Subscribe to Finance Monthly and Get the Latest Finance News, Opinion and Insight Direct to you every month.
chevron-right-circle linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram