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G4S Plc Rejects Charterhouse Capital Partners LLP Offer for Cash Solutions Business

Monday, 28 Oct 2013 02:57am EDT 

G4S Plc announced that on October 22, 2013 the Company received a non-binding, indicative and conditional offer of GBP 1,550 million from Charterhouse Capital Partners LLP for its cash solutions business. The non-binding offer is subject to due diligence and financing and free of cash, debt, tax and pension liabilities. The Board considers the Group's cash solutions services to be core to G4S' operations and strategic plans. The Board regards the nature and timing of the approach to be opportunistic and, following due consideration, with the assistance of financial advisers, 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. The Company does not intend to pursue this non-binding, conditional offer and has notified Charterhouse Capital Partners LLP. 

Company Quote

-1.4 -0.50%
24 Dec 2014