Key UK government security outsourcer G4S has finally been acquired by North American security and FM business Allied Universal at a purchase price of £3.8 billion.
The long-running takeover process ended this week with the sale to Allied Universal after it met all of the required offer conditions, including the required antitrust and regulatory approvals.
G4S will now cease trading on the London Stock Exchange to become a wholly private company. “It is anticipated that the cancellation of the listing of G4S shares on the Official List and trading of G4S Shares on the Stock Exchange's main market for listed securities will take effect no earlier than 5 May 2021,” said the company.
The battle between US company Allied Universal and Canada’s GardaWorld ended in late February after the intervention of the UK’s Takeover Panel when GardaWorld withdrew from a public auction after eight months of wrangling.
G4S is active in about 85 countries and has 533,000 employees.
Allied Universal is the third-largest employer within North America – and the seventh-largest in the world. The company has at least 800,000 employees working in security services and smart technology to deliver tailored bespoke solutions.
Steve Jones, chairman and CEO of Allied Universal, said: "This is truly a very significant moment in Allied Universal's history. Our vision is not only to be the best security company but to be the best corporate services partner in a world of evolving risk. I look forward to working with Ashley Almanza and G4S's senior management team through the integration process with the goal of establishing a global leader, equipped to lead the industry through the next phase of its development. Together, we will deliver the highest-value proposition to customers in the security industry."
Almanza, CEO of G4S, said: "Steve and his team have created a world-class security business in North America, and I have enormous respect for the business they have built."
"The combination of the skills, experience and talents in our two companies creates a unified business that will be unmatched in every important dimension including scale, coverage, employee opportunity, innovation and customer experience and, of course, performance. I look forward to working alongside the Allied Universal team to deliver the considerable benefits that I know this combination can achieve."