G4S PLC - security services provider - Allied Universal Security Services LLC's cash offer for G4S has been extended and remains open for acceptances until March 16. Will also waive down the acceptance condition from 75% to 50% plus one share.
In December, 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.
The offer also represents a 4% premium to GardaWorld's rival offer of 235p per share, valuing the London-listed firm at GBP3.68 billion.
Current stock price: 243.50 pence
Year-to-date change: down 4.1%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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