International. After a long battle of negotiations, Allied Universal finally managed to acquire the company G4S, beating the other bidder GardaWorld, based in Canada, to acquire the London-based security company.
79% of G4S shareholders approved the deal, which is valued at $5.3 billion.
John Connolly, Chairman of the Board of G4S, said: "We are pleased that a large proportion of shareholders have accepted Allied Universal's final offer. G4S's board believes the offering offers shareholders an attractive premium, while ensuring G4S's future success for employees, customers, pension plan members and other stakeholders. I would like to thank Ashley (Almanza) and her team along with all employees for the successful transformation of G4S over the past few years, which has made this transaction possible and I would like to thank my fellow Board members for their excellent work. Finally, I would like to thank all of our shareholders for their strong support."
Ashley Almanza, CEO of G4S said: "The combination of G4S and Allied Universal creates the global leader in security with revenues of over US$18 billion, industry-leading talent and experience and unrivalled market coverage. This unique combination will offer customers exceptional service and provide employees with an exciting future. I would like to thank the Board and our shareholders for their support and thank G4S colleagues for their outstanding contribution to the successful repositioning of G4S that has made this transaction possible. My team and I look forward to working with Allied to support a successful integration of the two businesses."
Allied Bidco expects Allied Universal's Final Offer to be fully unconditional on April 6, 2021.
GardaWorld ended its takeover bid last month when it said it would not increase its £3.7 billion bid for the company, which it said had faced "scandals, crises and lawsuits".
Allied, also specialising in security services, is smaller than its London-based rival, with revenues of £6 billion versus £7.8 billion from G4S. This acquisition will create a global security giant with 750,000 employees in 80 countries.
