GardaWorld first said it was planning a bid for G4S earlier this month (Gareth Fuller/PA)Security giant GardaWorld has tabled a formal bid of nearly £3 billion for its British rival G4S. The Canadian company said it would pay 190p per share in G4S, valuing the business at £2.97 billion. In a message published on the market and intended for shareholders, GardaWorld accused G4S’s management of failing stakeholders for a decade. Since the announcement, the company’s share price has shot up, and after a 4% rise on Wednesday it was trading at 197.3p – over 7p more than the bid. However, GardaWorld’s offer is still 30% higher than G4S’s share price on September 11 before the bid was made public.

Source: Irish Independent September 30, 2020 12:08 UTC