(Alliance News) -Â G4S PLC's takeover by Allied Universal Topco LLC has become unconditional in all respects.
As at 1pm London time on Thursday last week, Allied Universal's Atlas UK Bidco Ltd had received acceptances in respect of 1.37 billion G4S shares, representing just over 88% of its share capital.
Allied has offered 245 pence per G4S share. Shares in G4S were up 0.1% at 245.00p in London on Tuesday.
"As the offer is now unconditional in all respects and Allied Bidco has by virtue of its acceptances of the offer acquired, or agreed to acquire, issued share capital carrying more than 75% of the voting rights of G4S, Allied Bidco will now procure that G4S makes applications to cancel the listing of G4S Shares on the official list, to cancel trading in G4S Shares on the London Stock Exchange's main market for listed securities and to re-register G4S as a private limited company," Allied said.
It is expected the delisting of G4S shares will take effect no earlier than May 5.
G4S Chief Executive Ashley Almanza said: "I would like to thank G4S colleagues around the world for their significant, collective contribution to the successful restructuring and repositioning of G4S which has made it possible to combine two of the best companies in the global security industry. This has produced an excellent outcome for employees, customers and all of our key stakeholders. My team and I look forward to working with Allied Universal to support a successful integration of the two businesses."
By Lucy Heming;Â lucyheming@alliancenews.com
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