CORRECTED-G4S rejects $2.51 bln Charterhouse offer for cash solutions unit
(Corrects offer amount to pounds from dollars)
LONDON Oct 28 (Reuters) - G4S said it had rejected a 1.55 billion pound ($2.51 billion) offer for its cash solutions business from British private equity group Charterhouse Capital Partners, saying the bid undervalued the unit.
The company, the world's largest security services firm, said on Monday the nature and timing of the non-binding offer, which was made by the group on Oct. 22, was "highly opportunistic".
"The offer has been firmly rejected considering the strategic importance of the cash solutions businesses to G4S and because the Board believes the conditional offer fundamentally undervalues the business and its prospects," it said. ($1 = 0.6186 British pounds) (Reporting by Brenda Goh; Editing by Paul Sandle)