G4S confirms bid approach from Allied Universal Security Services

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G4S PLC (LON:GFS), the controversial security services provider, may be rescued from the unwelcome attentions of GardaWorld by a rival bid.

The company confirmed press speculation that US competitor Allied Universal Security Services has broached the subject of making an offer for G4S.

The UK company offered the usual caveat that there is no guarantee that the approach will lead to a formal offer will be forthcoming and it offered no clue as to the sort of take-out price Allied Universal is pondering. The shares were up 5.4% in afternoon trading at 212.3p.

In the meantime, it has a 190p a share offer on the table from Canadian rival GardaWorld that it is advising shareholders to reject.

READ G4S fights back at GardaWorld claims over pension and litigation liabilities

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