|Bid||245.90 x 0|
|Ask||246.20 x 0|
|Day's range||244.00 - 248.60|
|52-week range||69.92 - 248.60|
|Beta (5Y monthly)||1.32|
|PE ratio (TTM)||223.64|
|Earnings date||23 Jul 2020|
|Forward dividend & yield||N/A (N/A)|
|Ex-dividend date||30 Apr 2020|
|1y target est||241.00|
G4S shares have rocketed since an initial takeover approach in September. Now a higher offer has arrived. What would I do with this stock today? The post G4S shares leap again as a higher bid arrives. What would I do now? appeared first on The Motley Fool UK.
(Bloomberg) -- GardaWorld increased its hostile offer for G4S Plc to 3.68 billion pounds ($4.9 billion), the latest twist in the hotly contested pursuit of the British security provider.Canada’s Garda said in a statement Wednesday that its 235 pence-a-share cash offer is its final proposal, unless G4S gets a firm bid from someone else. To improve its chances, Garda slashed the investor acceptance threshold to proceed to 50% plus one share, from an earlier 90%.Bloomberg earlier reported the Montreal-based company planned to raise its bid.Garda will be hoping it has done enough to entice G4S investors away from rival suitor Allied Universal Security Services LLC. Some top shareholders had viewed 220 pence per share as a starting point for more serious negotiations, people with knowledge of the situation said earlier.Garda, with the backing of main shareholder BC Partners, announced an all-cash offer of 190 pence a share in September. G4S and some key shareholders rejected it as too low. As of Nov. 30, barely anyone had accepted the bid, increasing the pressure on the Canadian suitor to improve its offer or move on.Shares of G4S jumped 7% in London to 245.1 pence as of 8:07 a.m., giving the company a market value of about 3.8 billion pounds.To further sweeten the deal, Garda also agreed a 770 million-pound support package with G4S’s pension trustees in the U.K.G4S now has the task of considering a bid price that’s 130% higher than its closing price on June 12, the day prior to Garda’s first approach.Allied Universal is also preparing a fresh offer after the target rejected a proposal of at least 210 pence per share, people familiar with the matter said yesterday. The U.S. company, which is backed by Canadian pension fund Caisse de Depot et Placement du Quebec and buyout firm Warburg Pincus, has been waiting to see if Garda bumps before making a final decision on a new bid, they said.“Allied possesses material firepower and it can opt to exercise financial elasticity to pursue this one-off opportunity to catapult to global scale,” said Josh Rosen, an analyst at United First Partners. “Where a competitive scenario persists into the new year, we see an auction process as an inevitability, in a framework which is likely to eke out the best possible price for G4S.”Allied Universal is lining up financing after holding behind-the-scenes talks and getting access to G4S’s books, helping it calculate a higher offer based on potential synergies and the business outlook, the people said. They have a week after the Dec. 2 deadline to make a counteroffer.G4S Chief Executive Officer Ashley Almanza said in an interview in October that the company hasn’t seen any merger proposals that make sense and will push ahead with a turnaround plan.His counterpart at Garda, Stephan Cretier, has publicly accused management of losing “track of reality.” He has also taken aim at Allied Universal’s bid, saying it would get blocked by U.S. antitrust authorities. But Allied Universal secured that approval last month, undermining the argument.Garda, for its part, said it’s now received both European and U.S. approval. Investors have until 1 p.m. on Dec. 16 to accept the proposal.(Updates with shares, analyst comment from sixth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION. FOR IMMEDIATE RELEASE 2 December 2020 Statement regarding revised GardaWorld offer G4S plc (“G4S” or the “Company”) notes the recent announcement by Garda World Security Corporation (“GardaWorld”) regarding a revised, unsolicited offer of 235 pence per share in cash to acquire the entire issued and to be issued share capital of the Company (the “Revised Offer”). The Board of G4S is currently evaluating the Revised Offer, together with its financial and legal advisers. In the meantime, shareholders are strongly advised to take absolutely no action in relation to the Revised Offer. A further announcement will be made in due course. G4S continues to be in discussions with Allied Universal Services LLC (“Allied Universal”). Any firm offer from Allied Universal would be required to be announced by 9 December 2020. There can be no certainty that any firm offer will be made by Allied Universal nor as to the terms on which any such offer might be made by them. GardaWorld’s announcement regarding the Revised Offer and the Revised Offer are available on https://www.g4s.com/investors/offer-and-possible-offer. For further enquiries, please contact: Helen ParrisDirector of Investor Relations+44 (0) 207 9633189 Media enquiries Sophie McMillanHead of Media+44 (0) 759 5523483Press office +44 (0) 207 9633333 G4S Joint Lead Financial Advisers Citigroup Global Markets Limited J.P. Morgan Cazenove G4S Financial AdvisersGoldman Sachs InternationalLazard & Co., Limited G4S Legal Advisers Linklaters LLP Media Advisers Brunswick Notes to Editors: G4S is the leading global security company, specialising in the provision of security services and solutions to customers. Our mission is to create material, sustainable value for our customers and shareholders by being the supply partner of choice in all our markets. G4S is quoted on the London Stock Exchange and has a secondary stock exchange listing in Copenhagen. After taking account of the businesses being sold in the year, G4S is active in more than 80 countries and has around 533,000 employees. For more information on G4S, visit www.g4s.com. Important Notices Citigroup Global Markets Limited ("Citi"), which is authorised by the Prudential Regulation Authority (”PRA”) and regulated in the UK by the Financial Conduct Authority (”FCA”) and the PRA, is acting exclusively for G4S and no one else in connection with the matters set out in this announcement and will not regard any other person as its client in relation to the matters in this announcement and will not be responsible to anyone other than G4S for providing the protections afforded to clients of Citi nor for providing advice in relation to any matter referred to herein. J.P. Morgan Securities plc (which conducts its UK investment banking business as J.P. Morgan Cazenove) ("J.P. Morgan Cazenove") which is authorised in the United Kingdom by the PRA and regulated in the United Kingdom by the PRA and the FCA, is acting as financial adviser exclusively for G4S plc and no one else in connection with the matters set out in this announcement and will not regard any other person as its client in relation to the matters set out in this announcement and will not be responsible to anyone other than G4S plc for providing the protections afforded to clients of J.P. Morgan Cazenove or its affiliates, nor for providing advice in relation to any matter referred to herein. Lazard & Co., Limited (“Lazard”), which is authorised by the PRA and regulated in the United Kingdom by the FCA and the PRA, is acting exclusively as financial adviser to G4S and no one else in connection with the matters set out in this announcement and will not be responsible to anyone other than G4S for providing the protections afforded to clients of Lazard nor for providing advice in relation to the matters set out in this announcement. Neither Lazard nor any of its affiliates owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Lazard in connection with this announcement, any statement contained herein or otherwise. Goldman Sachs International (“Goldman Sachs”), which is authorised in the United Kingdom by the PRA and regulated in the United Kingdom by the PRA and the FCA, is acting exclusively for G4S and no one else in connection with the matters set out in this announcement. Goldman Sachs will not be responsible to anyone other than G4S for providing the protections afforded to clients of Goldman Sachs nor for providing advice in relation to any matter referred to herein. Disclosure RequirementsUnder Rule 8.3(a) of the Code, any person who is interested in 1% or more of any class of relevant securities of an offeree company or of any securities exchange offeror (being any offeror other than an offeror in respect of which it has been announced that its offer is, or is likely to be, solely in cash) must make an Opening Position Disclosure following the commencement of the offer period and, if later, following the announcement in which any securities exchange offeror is first identified. An Opening Position Disclosure must contain details of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities exchange offeror(s). An Opening Position Disclosure by a person to whom Rule 8.3(a) applies must be made by no later than 3.30 pm (London time) on the 10th business day following the commencement of the offer period and, if appropriate, by no later than 3.30 pm (London time) on the 10th business day following the announcement in which any securities exchange offeror is first identified. Relevant persons who deal in the relevant securities of the offeree company or of a securities exchange offeror prior to the deadline for making an Opening Position Disclosure must instead make a Dealing Disclosure. Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1% or more of any class of relevant securities of the offeree company or of any securities exchange offeror must make a Dealing Disclosure if the person deals in any relevant securities of the offeree company or of any securities exchange offeror. A Dealing Disclosure must contain details of the dealing concerned and of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities exchange offeror(s), save to the extent that these details have previously been disclosed under Rule 8 of the Code. A Dealing Disclosure by a person to whom Rule 8.3(b) applies must be made by no later than 3.30 pm (London time) on the business day following the date of the relevant dealing. If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire or control an interest in relevant securities of an offeree company or a securities exchange offeror, they will be deemed to be a single person for the purpose of Rule 8.3 of the Code. Opening Position Disclosures must also be made by the offeree company and by any offeror and Dealing Disclosures must also be made by the offeree company, by any offeror and by any persons acting in concert with any of them (see Rules 8.1, 8.2 and 8.4 of the Code). Details of the offeree and offeror companies in respect of whose relevant securities Opening Position Disclosures and Dealing Disclosures must be made can be found in the Disclosure Table on the Takeover Panel's website at www.thetakeoverpanel.org.uk, including details of the number of relevant securities in issue, when the offer period commenced and when any offeror was first identified. You should contact the Panel's Market Surveillance Unit on +44 (0)20 7638 0129 if you are in any doubt as to whether you are required to make an Opening Position Disclosure or a Dealing Disclosure. Rule 26.1 DisclosureIn accordance with Rule 26.1 of the Code, a copy of this announcement will be available at www.g4s.com, by no later than 12 noon (London time) on the business day following this announcement. The content of the website referred to in this announcement is not incorporated into and does not form part of this announcement.