CRAWLEY (dpa-AFX) - G4S plc (GFSZY.PK, GFS.L) confirmed Monday that on 1 September, it received an unsolicited proposal from BC Partners and GardaWorld, regarding a possible cash offer of 190 pence per G4S share for the entire issued, and to be issued, share capital of G4S.
The offer price represents a premium of 31% to the price of 145 pence per share prevailing immediately prior to the announcement of the possible offer.
The new proposal followed earlier proposals at 145 pence per share (15 June 2020) and 153 pence per share (26 June 2020), each of which was unanimously rejected by G4S.
G4S said that its board rejected the new proposal on 12 September, saying that the new offer significantly undervalues the company and its prospects.
As per the U.K. Law, GardaWorld must, by not later than on 12 October 2020, either announce a firm intention to make an offer for G4S or announce that GardaWorld does not intend to make an offer for G4S. The deadline can be extended with the consent of the Takeover Panel.
Copyright RTT News/dpa-AFX