(Alliance News) - Allied Universal Topco LLC said on Tuesday its subsidiary Atlas UK Bidco Ltd's and G4S PLC, a security services company based in London, have published an offer document following its agreement to buy G4S.
The Pennsylvania-based security and facility services company and G4S said the takeover offer will remain open for acceptance until January 26.
G4S agreed to be taken over by Allied Universal in a GBP3.8 billion deal last month. Under the offer made by Atlas UK Bidco, G4S shareholders will be entitled to receive 245 pence in cash for each share held.
In November, G4S directors had rejected a GBP3.25 billion bid from Allied Universal - offering "at least" 210p per share - stating that it undervalued the business.
Shares in G4S were up 0.3% at 256.80 pence in London on Tuesday.
"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," said G4S Chief Executive Ashley Almanza in December.
By Zoe Wickens; zoewickens@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.
