According to the Takeover Panel for G4S, Allied Universal and GardaWorld will have until Feb. 20 to make revised bids for G4S, and if the situation hadn’t been settled by then, the process will head to an auction. All parties have reportedly agreed to the terms. Canada’s GardaWorld and U.S.-based Allied Universal have both extended deadlines for their offers several times. February 22 is set as the first day for the auction.

G4S, which employs more than 500,000 people around the world, in December backed a $5.2 billion bid from Allied Universal, after repeatedly rejecting offers from GardaWorld.

UNI Global Union, a global union which represents more than 20 million workers from over 150 different countries in the fastest growing service sectors in the world including security, says that it expects the new owner of G4S to continue to protect workers' rights and employment conditions of the security officers and guards it employs. UNI and its affiliates in all regions are driven by the responsibility to ensure jobs are decent and workers’ rights are protected, including the right to join a union and collective bargaining.

"As GardaWorld and Allied Universal head into a bidding war that will decide the future of G4S, and the global security industry, employment conditions of security guards employed by G4S everywhere must to be addressed and standards must be protected. UNI Global Union expects that the new owner remains committed to improving and strengthening our global agreement with G4S no matter who wins the bid," said Christy Hoffman UNI Global Union General Secretary.