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11/8/2020, 6:54 PM (Source: TeleTrader)
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GardaWorld prolongs its hostile bid for G4S

Canadian private security company GardaWorld said on Sunday it decided to prolong its hostile takeover offer for British multinational security services company G4S Plc

A hostile bid of 190 pence per share that values the company at 2.97 billion pounds ($3.91 billion), was launched last month and the British security giant refused it. However, GardaWorld stated that the offer will remain open for acceptance until November 28.

GardaWorld’s Chief Executive Stephan Cretier explained that the company decided to extend its offer because, “despite its past problems and uncertain future, we believe we can turn the business around.”

Breaking the News / TF