(Reuters) – U.S. private security firm Allied Universal said on Tuesday around 79% of G4S shareholders had accepted its bid to buy the British rival for 3.8 billion pounds ($5.28 billion), ending a drawn-out takeover battle with Canada’s GardaWorld.
Shareholders accepted Allied Universal higher offer of 245 pence per share over GardaWorld’s 235 pence apiece bid. Allied had brought down its offer acceptance level to 50% plus one G4S share.
Shares of G4S closed up 0.7% at 244.5 pence.
The merger between G4S and private-equity backed Allied Universal would create the world’s largest private security company, employing more than 750,000 security guards and other staff across dozens of countries, while also strengthening its presence in the United States.
Sweden’s Securitas AB is the next biggest player in the U.S. private security market.
Allied has largely obtained the required antitrust regulatory approvals in the United States and European Union (EU). The deal does not require approval from Britain since the EU clearance was obtained before the Brexit deadline.
Allied said the offer would become wholly unconditional on April 6.
($1 = 0.7198 pounds)
(Reporting by Yadarisa Shabong in Bengaluru; Editing by Amy Caren Daniel)
