4/10/2019, 3:59 PM (Source: TeleTrader)
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Chart for: G4S PLC ORD 25P

G4S stocks soar on possible takeover bid

The stock value of G4S plc, a security firm based in London, soared on Wednesday after GardaWorld Corp. from Canada confirmed it was considering an acquisition offer.

"Garda World notes the recent market speculation in relation to G4S and confirms that it is in the preliminary stages of considering an approach to the board of G4S regarding a possible cash offer for the company, or a part thereof," the statement from the firm based in Montreal said.

After rocketing over 30% shortly after the possible offer was confirmed, G4S shares were jumping 16.71% at 3:56 pm CET, to £215.50 per share. The level is the highest since October 3, however, in the last six months, there is still a 3.28% decline.

G4S' market capitalization on yesterday's close was £2.87 billion, now at approximately £3.87 billion.

Breaking the News / NI