G4S (LON: G4SA) takeover bid under lens

2 min read | January 18, 2021 05:24 AM EST | By Team Kalkine Media

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In a significant move, US state officials have said that they would minutely look into the G4S Plc (LON:G4SA) takeover bid.
The takeover bid of the UK security group has been under scanner after it was reported that working conditions for security guards across the globe, could be hampered with the deal.
Democrat Michael Frerichs, in an online forum, appealed the investors to call for greater transparency, pointing out that neither of the two bidders had disclosed key facets of their business plan.

(Image source: ©Kalkine Group 2020)

The company is at present considering two private-equity backed bids – by Allied Universal and GardaWorld, which if approved, would see it as one of the largest privately owned employers in the world.
Currently, the firm employs about 530,000 staff across 85 counties. The services that it operates, include managing functions of 4 four British prisons and supervising 21 UK Covid-19 test centres.
It was in December last year that G4S had agreed to a sweetened deal from Allied Universal Security Services, valuing the company at £3.8 billion.
The company has been embroiled in allegations of being involved in scandals about its work on UK government contracts.
Also, GardaWorld in which BC Partners, a private equity firm, possessing a 51 per cent stake, in September accused the G4S board directors of declining to hold a talk after they dismissed a £3 billion offer.

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