(Alliance News) - G4S suitor Allied Universal Security Services LLC on Tuesday said it has extended the closing date of its offer for the security services firm.
Last month, G4S agreed to be taken over by Allied Universal in a GBP3.8 billion deal.
Under the offer made by Atlas UK Bidco Ltd - which is indirectly controlled by Allied Universal - G4S shareholders will be entitled to receive 245 pence in cash for each share held. This values G4S at GBP3.8 billion and represents a 68% premium to G4S's closing price on September 11, the last business day before the offer period commenced.
G4S shares closed 0.7% higher at 261.00 pence each in London on Tuesday.
Allied said the offer will remain open until February 9.
As of Tuesday afternoon, Allied has received valid acceptances for 13.1 million G4S shares, about 0.8% of the company.
By Eric Cunha; ericcunha@alliancenews.com
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