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Allied Univeral closes in on G4S takeover as acceptance reaches 90%

Tue, 13th Apr 2021 11:31

(Alliance News) - Allied Universal on Tuesday said over 90% of G4S PLC shareholders have accepted its takeover offer, meaning it can compulsorily buy the remaining shares.

Allied will soon send formal notices to shareholders who haven't accepted the offer and complete the compulsory purchase of their shares six weeks later. G4S will delist from the London Stock Exchange on May 5 at the earliest.

Allied, a California-based security and staffing provider, is paying 245 pence per share for London-based peer G4S, valuing it at GBP3.8 billion.

G4S shares were up slightly at 244.80 pence in London on Tuesday.

By Ivan Edwards; ivanedwards@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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