CRAWLEY (dpa-AFX) - G4S plc (GFSZY.PK, GFS.L) said that a very large proportion of its shareholders have accepted Allied Universal's final offer.
G4S's board believes that the offer provides shareholders with an attractive premium, while securing the future success of G4S for employees, customers, pension scheme members and other stakeholders.
Allied Universal Topco said that it has received acceptances of 79.09% for the cash offer of 245 pence per G4S share made by Atlas UK Bidco Limited and that the Final Allied Universal Offer has become unconditional as to acceptances.
The Final Allied Universal Offer price of 245 pence per G4S share represents a premium of about 68% to the closing price of 146 pence per G4S share on 11 September 2020.
The G4S Directors recommend that those G4S shareholders, who have not already done so, accept the Final Allied Universal Offer. The Final Allied Universal Offer will remain open for acceptance until further notice. At least 14 days' notice will be given by an announcement before the Final Allied Universal Offer is closed.
Allied Bidco said it has obtained substantially all of the required antitrust and regulatory approvals and foreign direct investment clearances in applicable jurisdictions and confirmed that, if any Conditions remain outstanding on the final date under the Code by which the Final Allied Universal Offer must become wholly unconditional or lapse, it intends to waive such Conditions.
Allied Bidco expects that the Final Allied Universal Offer will become wholly unconditional on 6 April 2021.
In a separate press release, Garda World Security Corp. announced lapse of cash Offer for G4S. Garda World Security said late-last month that it decided to stay firm with its increased offer of 235 pence per share to acquire the entire issued and to be issued share capital of G4S plc.
As of on 16 March 2021, Fleming, a subsidiary of Garda World, had received valid acceptances in respect of a total of 1.13 million G4S Shares, representing about 0.07 per cent. of the issued share capital of G4S.
In addition, Fleming holds in aggregate 24.07 million G4S Shares, representing about 1.55 percent of G4S's issued share capital. Accordingly, Fleming either holds, or has received valid acceptances of its Cash Offer in respect of, a total of 25.19 million G4S Shares, representing about 1.62 per cent. of G4S's issued share capital.
Therefore, the acceptance condition has not been satisfied and the cash offer has now lapsed and is no longer capable of acceptance. Any G4S Shareholders who have accepted the cash offer cease to be bound by their acceptances.
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