G4S board recommends $5.08 billion deal with Allied Universal to shareholders

December 8, 2020

The boards of directors of G4S have made a recommendation to its shareholders that it accept a cash offer from Atlas UK Bidco Limited, a newly incorporated entity that is indirectly controlled by Allied Universal, to acquire the entire issued and to be issued share capital of G4S.

EDITOR'S NOTE: While this offer has been recommended to the shareholders, it has not yet been voted on by shareholders, and other offers could still come in.

Ashley Almanza, Chief Executive Officer of G4S said, "G4S has been transformed into a focused global leader in security services with market-leading solutions and a blue-chip customer base that is served by a dedicated and talented team of over 530,000 employees. The combination of G4S and Allied Universal creates the global leader in security with over 750,000 employees, industry leading capabilities and unrivalled market coverage. This unique and compelling combination will offer customers exceptional service and provides employees with an exciting future."

Under the terms of the Offer, G4S Shareholders will be entitled to receive: 245 pence ($3.28) in cash for each G4S Share. The offer values the entire issued and to be issued ordinary share capital of G4S at approximately £3.8 billion ($5,076,591.00).

Commenting on the Offer, Steve Jones, President and Chief Executive of Allied Universal said: "We are delighted that our offer of 245 pence per share has been recommended by the G4S Board. Our businesses know each other well, we share a similar culture and values and I am excited about what the combination of Allied Universal and G4S can deliver. G4S has an excellent service offering, an enviable global customer portfolio and it is led by a highly experienced management team. We have been impressed by the recent transformation of G4S which alongside our successful acquisition track record, underpins our confidence of ensuring a seamless integration of the two businesses. Combined, we will have over 100 years of industry experience and a more extensive global network in terms of people, customers and capabilities. Together, we will be in a stronger position to deliver enhanced value for all stakeholders and address customers' evolving security needs in an increasingly volatile and fast-changing world."

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