Allied Universal and GardaWorld are both in the running to snap up G4S (John Linton/PA)The bidding war to take over security giant G4S has been thrown to an auction after neither interested party made a final bid. Both Canada’s GardaWorld and US company Allied Universal are in the running to snap up the UK-based company. But the Takeover Panel said on Friday that it would have to step in to finalise the arrangements. A week later, Allied Universal entered the race with a £3.8 billion bid which needed 90% acceptance. The Takeover Panel said: “Each of G4S, Garda World and Allied Universal has agreed to the terms of the auction procedure and this statement.”.

Source: Irish Independent February 12, 2021 13:41 UTC