G4S: Allied Universal in top position; GardaWorld declines to raise bid
The battle over UK-based G4S took an interesting turn this morning as Canadian-based security and guarding firm GardaWorld declined to raise its bid. This places U.S.-based Allied Universal in a winning position. A deal for Allied Universal would launch the company into a security firm with a global reach.
Allied is backed by private-equity firm Warburg Pincus LLC and Canadian pension fund Caisse de Depot et Placement du Quebec. The company's current bid is $5.3 billion to acquire G4S.