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Security company G4S rejects takeover offer from Allied Universal - Bloomberg News

FILE PHOTO: Rugby League - Huddersfield Giants v Warrington Wolves Carnegie Challenge Cup Semi Final - City of Salford Stadium - 15/7/12 G4S security staff at the game Mandatory Credit: Action Images / Carl Recine

(Reuters) - British private security firm G4S GFS.L has rejected a takeover proposal from U.S. rival Allied Universal Security Services, Bloomberg News reported on Monday, citing people with knowledge of the matter.

G4S, which is currently in a hostile takeover battle with Canada's GardaWorld, rejected Allied Universal's proposal last week as too low and didn't engage with the company, according to the report. (bloom.bg/3jOwmKZ)

G4S, one of the world’s largest private security companies, has also repeatedly rejected GardaWorld’s 190 pence per share offer valuing it at 2.97 billion pounds, calling it “unattractive and opportunistic”.

U.S.-based Allied Universal’s proposal was above Garda’s bid of 190 pence per share and closer to 210 pence per share, Bloomberg reported.

At 210 pence per share, G4S would be valued at 3.25 billion pounds, based on Reuters calculations.

G4S and Allied Universal did not immediately respond to Reuters’ requests for comment.

Reporting by Kartik Mehindru and Shubham Kalia in Bengaluru; Editing by Shounak Dasgupta

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