Allied Universal made an offer to acquire G4S plc (LSE:GFS) for £3.2 billion on October 9, 2020. As on December 8, 2020, Allied Universal Security Services LLC entered into agreement to acquire G4S plc for £3.8 billion. As per the agreement, Allied Universal Security Services LLC will acquire the shares of G4S plc at an offer price of £2.45 per share. The transaction will be financed through a combination of debt and equity financing. The debt financing is to be provided pursuant to the Interim facilities agreement. As of December 30, 2020, the interim facilities agreement added new financers including ING Capital LLC, MUFG Union Bank, N.A. and Truist Bank.

Upon completion of the offer it is expected that each of the non-executive Directors of G4S will resign as G4S Directors. As of April 6, 2021, Michel van der Bel, Clare Chapman, Elisabeth Fleuriot and Barbara Thoralfsson retired from the board and Tim Brandt and David Buckman have been appointed to join the board of G4S with immediate effect. The transaction is subject to due diligence, minimum acceptance threshold and third-party clearance. If Allied Universal receives acceptances under the offer in respect of 90 percent or more in value of the G4S Shares to which the Offer relates and 90 percent or more of the voting rights carried by those shares, and assuming that all of the other conditions of the offer have been satisfied or waived. Allied Universal intends to exercise its rights to acquire compulsorily the remaining G4S Shares on the same terms as the Offer. Subject to the satisfaction of the Conditions, it is expected that the offer will become unconditional in all respects in the first quarter of 2021. The transaction was previously rejected by the Board of Directors of G4S plc as the proposal at £2.1 per share, significantly undervalued G4S and its prospects. On November 13, 2020, Allied Universal cleared U.S. antitrust review, having received early termination of the applicable waiting period under the HSR Act. As of December 8, 2020, G4S directors unanimously recommend that G4S shareholders accept the Offer as they have irrevocably undertaken to do in respect of their own G4S Shares. On January 13, 2021, the deal is approved by EC unconditionally. As of February 4, 2021, The Competition Commission South Africa approved the deal. As of February 9, 2021, Allied Universal had received valid acceptances in respect of a total of 13,318,272 G4S shares, representing approximately 0.85% of the issued share capital of G4S. As of March 8, 2021, all of the required antitrust and regulatory approvals and foreign direct investment clearances have been obtained. The offer is expected to close in the first quarter of 2021. As on January 5, 2021, the offer is valid till January 26, 2021. As on January 26, 2021, the offer is valid till February 9, 2021. As of February 9, 2021, the transaction will remain open for acceptance until the next closing date which will be March 6, 2021. As of February 22, 2021, The competing bidder Garda world refused to increase his offer and decided they would not go beyond £0.235 share and Allied Universal Security Services also stated their offer is also final for G4s and hence Allied group was declared as winner of auction. As of March 8, 2021, the offer has been extended till March 16, 2021. US Allied Universal Security Services LLC lowered the threshold of required acceptances from 90% to 75% for the offer and it has obtained almost all required competition clearances to carry out the transaction, including in the European Union (EU) and the USA, where it has also been cleared by the US Department of Justice. As of March 12, 2021, the threshold of required acceptances from 75% to 50%. It expects to obtain the small number of remaining approvals within the agreed timeline. On March 16, 2021, Allied Universal received valid acceptances of approximately 79% of issued capital of G4s towards satisfaction of acceptance of conditions of offer and the offer become unconditional. The Offer will remain open for acceptance until further notice. At least 14 days' notice will be given by an announcement before the Offer is closed. Allied Universal expects that the Offer will become wholly unconditional on April 6, 2021 and along with that it will delist G4s and able to commence and complete a compulsory acquisition of the remaining G4S Shares. As of April 1, 2021, Allied received valid acceptances of the Offer in respect of a total of 1,369,378,282 G4S Shares, representing approximately 88.25% of the existing issued ordinary share capital of G4S. On 19 March, Nasdaq approved the removal from trading of G4S' shares from Nasdaq Copenhagen A/S ("Nasdaq") and official listing. The last day of trading on Nasdaq will be 16 April 2021. As of April 6, 2021, all conditions pertaining to the transaction is now completed and the offer is now unconditional in all respects. Allied will now procure that G4S makes applications to cancel the listing of G4S Shares on the Official List, to cancel trading in G4S Shares on the London Stock Exchange's main market for listed securities and to re-register G4S as a private limited company. It is anticipated that the cancellation of the listing of G4S Shares on the Official List and trading of G4S Shares on the London Stock Exchange's main market for listed securities will take effect no earlier than May 5, 2021.

Raymond R. Raimondii, Joe Hannon and Ben Deary of Credit Suisse and Henry Stewart, Laurence Hopkins, David Khayat, Duncan Williamson and Tom Perry of Morgan Stanley & Co. International plc acted as financial advisors for Allied Universal Security Services LLC. Jonathan Kaye and Liam Beere of Moelis & Company acted as financial advisors to Allied Universal Security Services LLC. Andrew Seaton, Robert Way and William Morton of Citigroup Global Markets Limited acted as financial advisors, Edmund Byers, Celia Murray and Richard Walsh of JPMorgan Cazenove Ltd., Mark Sorrell and Jose Barreto of Goldman Sachs International and William Rucker and Nicholas Page of Lazard & Co., Limited acted as financial advisors to G4S plc. Linklaters LLP acted as legal advisor to G4S plc. Jim Langston, Sam Bagot, Jeremy Calsyn, Christopher Cook, Mikhail Suvorov, Paul Gilbert, Richard Pepper, Michael Albano, Jason Factor, Corey Goodman, Richard Sultman, Alexis Collins, Jonathan Kelly and Jim Corsiglia of Cleary Gottlieb Steen & Hamilton LLP, Freshfields Bruckhaus Deringer LLP, Eric J. Wedel, Ben Steadman, Vivek Ratnam and David M. Grenker of Kirkland & Ellis LLP and Leon Daoud, Neel V. Sachdev and Mavnick Nerwal of Kirkland & Ellis LLP acted as legal advisors to Allied Universal Security Services LLC. Samir Gandhi and Hemangini Dadwal of AZB & Partners acted as legal advisor to Allied Universal Security Services LLC. Charles Pretzlik and Jonathan Glass of Brunswick Group LLP acted as PR advisors for G4S plc. Baker McKenzie acted as legal advisor to Morgan Stanley & Co. International plc in the transaction.

Allied Universal completed the acquisition of G4S plc (LSE:GFS) on April 12, 2021. As of April 12, 2021, Allied Universal Security Services LLC had received valid acceptances under the Offer in respect of a total of 1,410,398,516 G4S Shares representing approximately 90.25% of G4S and as a result , Allied Universal Security Services LLC is exercising the right of compulsory acquisition.