Statement regarding Conditional Indicative Offer from Allied Universal

Nachrichtenquelle: globenewswire
03.11.2020, 09:59  |  155   |   |   

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

FOR IMMEDIATE RELEASE

3 November 2020

Statement regarding Conditional Indicative Offer from Allied Universal

The Board of G4S plc (“G4S” or “the Company”) notes recent media speculation in relation to an indicative offer for the Company by Allied Universal Security Services LLC (“Allied”). On 9 October 2020, the Board of G4S announced that it had received an expression of interest from Allied regarding a possible offer for the entire issued and to be issued share capital of the Company.

As set out in the Company's circular dated 29 October 2020, the Board of G4S firmly believes that the Company has a strong independent future. Notwithstanding this, the Board has a fiduciary duty to consider any proposals for the Company and, since the initial expression, of interest, G4S has engaged with Allied and an independent consultant to establish a process through which commercially de-sensitised information may be provided to Allied (or any other offeror) in a manner which protects the Company's competitive position, its employees and its customers. To date no information has been provided to Allied through this process.

G4S confirms that on Wednesday 28 October, 2020, the Board received a highly conditional indicative offer from Allied, subject to substantial due diligence requirements, at a price of “at least 210p per share” (the “Proposal”). The Board carefully considered this Proposal with appropriate advice from the Company's financial and legal advisers and rejected it on the basis that the highly conditional offer, at 210p per share, significantly undervalues G4S and its prospects.

This announcement is made without the consent of Allied.

This announcement can be accessed via https://www.g4s.com/investors/offer-and-possible-offer

The person responsible for releasing this announcement on behalf of G4S is Celine Barroche, Company Secretary.

 

For further enquiries, please contact:
   
Helen Parris Director of Investor Relations +44 (0) 207 9633189
 

Media enquiries
   
Sophie McMillan Head of Media +44 (0) 759 5523483
Press office   +44 (0) 207 9633333

G4S Joint Lead Financial Advisers and Corporate Brokers

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Disclaimer

Statement regarding Conditional Indicative Offer from Allied Universal NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION. THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR …

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