Apr 10, 2019

G4S shares soar on possible £3bn Canadian bid

PA Shares in G4S - which runs UK prisons and botched security arrangements at the London Olympics - have jumped as much 30% after a Canadian rival admitted it was considering a takeover. G4S agreed to repay £108.9m plus tax to the UK government after overcharging on contracts to tag offenders. Garda World - which describes itself as the world's largest privately owned security company - did not disclose many details about its possible offer. It said in a statement, sparked by a report in London's Evening Standard newspaper, that it was "In the preliminary stages of considering an approach to the board of G4S regarding a possible cash offer for the company, or a part thereof". G4S has admitted in the past to receiving unsolicited interest for its cash handling division.

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