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UK's G4S rejects takeover offer from Allied Universal

FILE PHOTO: Security staff in G4S jackets at the Challenge Cup semi-final between Huddersfield Giants and Warrington Wolves
FILE PHOTO: Security staff in G4S jackets at the Challenge Cup semi-final between Huddersfield Giants and Warrington Wolves

(Reuters) - British private security firm G4S Plc <GFS.L> on Tuesday rejected a takeover proposal from U.S. rival Allied Universal Security Services, saying that the highly conditional offer of 210 pence per share significantly undervalues the company.

The announcement from G4S, which is also currently in a hostile takeover battle with Canada's GardaWorld, was first reported by Bloomberg News on Monday.

(Reporting by Tanishaa Nadkar in Bengaluru; Editing by Rashmi Aich)