The board of G4S plc (LON:GFS) noted the announcement by GardaWorld Security Corporation (“Garda World”) on 5 May stating that, in accordance with Rule 2.8 of the City Code on Takeovers and Mergers, it does not intend to make an offer for the Company. Accordingly, GardaWorld is now subject to the restrictions under Rule 2.8 of the Code.
G4S plc confirms that during the offer period, which commenced on 10 April 2019, it received no proposals from GardaWorld, nor any requests for information or for an extension to the PUSU deadline under the Code.
The Group continues to focus on its previously announced review of options for the separation of its Cash Solutions business from the Group. Our aim is to establish two strong independent businesses that are able to take advantage of their leading market positions and excellent service offerings for the benefit of customers, employees and shareholders. The Group is making good progress in its plans to enable it to commence separation of the cash business in the second half of 2019 and our analysis to date has further strengthened our expectation that a separation will deliver significant benefits.
Since GardaWorld announced, on 10 April, that it was considering an offer for the Company or part thereof, G4S has received additional expressions of interest to acquire the Group’s Cash Solutions businesses and these will be evaluated alongside the separation review.