G4S shareholders accept £3.8bn takeover offer from US giant Allied Universal
The long-running and acrimonious takeover battle for G4S ended last night as shareholders accepted a £3.8billion offer from US giant Allied Universal and its private equity backers.
Close to 80 per cent of G4S shareholders backed a deal to create the world’s largest private security company.
The enlarged firm will generate more than £13billion in revenue and employ more than 750,000 staff.
Close to 80 per cent of G4S shareholders accepted a £3.8billion offer from US giant Allied Universalto create the world’s largest private security company
It also means control of the British firm, which has been beset by scandals in the last 15 years, will move to America.
G4S chief executive Ashley Almanza, who will run it for at least a year, said: ‘My team and I look forward to working with Allied to support a successful integration of the two businesses.’
The 57-year-old and chairman John Connolly, 70, will scoop an estimated £7m.
Sue Noffke, head of UK equities at G4S shareholder Schroders, said the ‘management and the board have delivered a very good result for all stakeholders’.
Allied and its private equity backer Warburg Pincus muscled GardaWorld out of the running after a bitter bidding war.
The price paid is equivalent to 245p per share, well above the first 145p offer made in June last year.