(Alliance News) - Security services firm Garda World Security Corp on Monday extended the final acceptance deadline for its offer for UK peer G4S PLC.
Garda and rival bidder Allied Universal both recently were put into an auction process for outsourcer G4S - but both companies stood firm on their offers.
G4S shares were trading 0.3% lower in London on Monday morning at 241.81 pence each.
Back in December, Garda declared an increased and final cash offer of 235 pence per share for G4S, valuing the London-listed security services firm at GBP3.68 billion.
Garda World subsidiary Fleming holds 24.1 million G4S shares, a 1.6% stake. In addition, it has received acceptances of its offer for 1.1 million shares, reflecting a 0.06% stake.
On Monday, Garda said its offer will remain open until March 16.
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 245p in cash for each share held.
By Paul McGowan; paulmcgowan@alliancenews.com
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