The battle for control of G4S is nearly at an end after Allied Universal gave shareholders in the security group until March 16 to accept its £3.8 billion, 245p-a-share takeover offer.
The deadline comes nine months after the battle for G4S began when Garda World of Canada first approached the board with a takeover proposal.
Garda subsequently tabled formal bids of 190p and 235p, both rejected by the G4S board, which had been sharply criticised by the Canadian firm’s executives. Allied then came in with 245p, supported by the G4S board.
With the process deadlocked, the Takeover Panel ordered a public auction. That ended before it started on Monday when Garda said it would not raise its offer, handing Allied victory.
Allied said yesterday that