Canadian security firm Garda goes hostile in $5.2B bid for British company G4S

Garda World Security Corp. is making a hostile play for G4S after the British security company spurned its $5.2 billion US offer two weeks ago.

The Montreal-based company appealed directly to G4S shareholders by criticizing the firm’s directors and accusing them of acting in a “cavalier manner” by rejecting several approaches in recent months.

GardaWorld founder, president and CEO Stephane Cretier says that G4S faces profound difficulties and needs an owner and operator that understands the industry and has a well-defined plan.

The reputation of the GS4 has been damaged in recent years, especially for the lack of agents during the 2012 London Olympics to assure security.

Through its subsidiary Fleming Capital Securities, GardaWorld offered 190 pence for each share of the British company. On the London Stock Exchange, G4S shares gained 5.9 per cent at 200.30 pence in Wednesday trading.

GardaWorld unveiled the terms of its proposal on Sept. 14 in an attempt to force the hand of the British company, which has described the move as “highly opportunistic.”

Latest articles

Halsey Is Back to Bald: See Her Shaved-Head Look

After a Twitter user asked if she had a specific reason to switch it up, she replied, "I was growing it out for...

Watch the Trailer For Chadwick Boseman’s Final Film

Chadwick Boseman's final film appearance is a stirring love letter to blues and the triumphs of Black talent. In Ma Rainey's Black Bottom,...

We still don’t know what COVID-19 immunity means or how long it lasts

Even as U.S. President Donald Trump claims his bout with COVID-19 has granted him immunity, reports of people getting the disease a second...

NASA’s about to scoop up some asteroid dirt on the space rock Bennu. Scientists are thrilled.

NASA will touch a space rock tomorrow (Oct. 20) in a milestone event for what the agency considers a crucial field of study:...

Related articles

Leave a reply

Please enter your comment!
Please enter your name here