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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  G4S plc    GFS   GB00B01FLG62

G4S PLC

(GFS)
  Report
Real-time Estimate Quote. Real-time Estimate CHI-X - 10/28 08:20:13 am
204.45 GBX   -1.33%
03:00aGOLDMAN SACHS & CO. LLC : Form 8 Opening Position Disclosure
AQ
10/23INVESCO LTD. : Form 8.3 - G4S PLC
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10/19GLOBAL MARKETS LIVE: ConocoPhillips, IBM, American Airlines…
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G4S rejects $3.81 billion hostile bid from private equity-backed GardaWorld

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09/30/2020 | 10:24am EDT
FILE PHOTO: A G4S security van is parked outside a bank in Loughborough

Security group G4S on Wednesday rejected a cash offer by smaller Canadian rival GardaWorld that valued the British company at 2.97 billion pounds ($3.81 billion), weeks after it turned down a similar proposal.

G4S, one of the world's largest private security companies, had rejected GardaWorld's sweetened 190 pence per share proposal earlier in September, calling it "highly opportunistic." It also rejected two prior proposals in June for 145 pence per share and 153 pence per share each.

G4S said: "Shareholders are strongly advised to take absolutely no action in relation to the unattractive and opportunistic offer."

Shares in London-listed G4S were up 5% at 198.9 pence by 1125 GMT, above the 190 pence offer made by GardaWorld's subsidiary Fleming Capital Securities.

Since GardaWorld made its offer for G4S public on Sept. 14, G4S shares are up 30%.

"The G4S Board has behaved in a cavalier way by rejecting our potential offer out of hand," GardaWorld's Chief Executive Stephan Cretier said.

"We look forward to meeting with investors to explain the challenges ahead and why this is a full and fair price," Cretier added.

The latest offer, which is for the same amount as the one made a few weeks ago, represents a premium of 0.5% to G4S' Tuesday's closing stock price. Analysts had likened the takeover approach as "the tiddler swallowing the whale".

GardaWorld's interest in G4S was made known last year, when it considered a cash offer for some or all of G4S, but by May had opted not pursue a deal.

Over the past year G4S has had to overcome a series of setbacks, including the loss of a contract to run a Birmingham prison, and a decision by Norway's wealth fund not to invest in the company.

It sold off most of its cash-handling business in February to U.S. peer Brinks Co.

($1 = 0.7790 pounds)

(Reporting by Aakash Jagadeesh Babu in Bengaluru and Yadarisa Shabong. Editing by Jane Merriman)

By Aakash B and Yadarisa Shabong


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All news about G4S PLC
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Financials
Sales 2020 6 886 M 8 933 M 8 933 M
Net income 2020 407 M 527 M 527 M
Net Debt 2020 1 463 M 1 898 M 1 898 M
P/E ratio 2020 8,00x
Yield 2020 1,77%
Capitalization 3 203 M 4 187 M 4 155 M
EV / Sales 2020 0,68x
EV / Sales 2021 0,64x
Nbr of Employees 533 000
Free-Float 97,5%
Chart G4S PLC
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Technical analysis trends G4S PLC
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 7
Average target price 210,86 GBX
Last Close Price 207,20 GBX
Spread / Highest target 36,6%
Spread / Average Target 1,76%
Spread / Lowest Target -18,0%
EPS Revisions
Managers
NameTitle
Ashley Martin Almanza Chief Executive Officer & Executive Director
John P. Connolly Non-Executive Chairman
Timothy Peter Weller Chief Financial Officer & Executive Director
Steven Lewis Mogford Senior Independent Non-Executive Director
Barbara Rose Milian Thoralfsson Independent Non-Executive Director
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