LONDON (Alliance News) - Canadian firm Garda World Security Corp on Sunday said it does not intend to make an offer for UK-listed security company G4S PLC.
At the beginning of April, Garda World had said it was in the "preliminary stage" of considering an approach to G4S, to be made in cash. At the time, it provided no further details.
G4S on Sunday noted the Garda World statement and confirmed that since April it has not received any approach from the Canadian firm.
"The group continues to focus on its previously announced review of options for the separation of its Cash Solutions business from the group," G4S said.
It added: "Our aim is to establish two strong independent businesses that are able to take advantage of their leading market positions and excellent service offerings for the benefit of customers, employees and shareholders."
On this regard, the company said it is making "good progress" to commence the separation in the second half of 2019.
G4S shares were trading down 3.2% at 209.10 pence each. The firm's stock had closed 17% higher on the day at 215.35p on April 10 when the potential offer was first announced.
