(Reuters) - Allied Universal said on Tuesday it had extended the time for G4S shareholders to accept its offer to buy the British security services firm, making the move a day before Canadian rival GardaWorld’s extended offer expires.
Shareholders now have until Feb. 9 to accept the U.S. company’s offer for G4S, which the security company had accepted in December, leaving GardaWorld behind and potentially ending a tense, months-long bidding war.
Allied’s offer of 245 pence per share was 10 pence higher than GardaWorld’s bid.
The offer document sent to G4S shareholders was set to expire on Tuesday, according to Allied’s statement from Jan. 5.
G4S has restructured its business, following a series of setbacks, and the bidding war between the U.S. and Canadian companies for the London-listed firm began when GardaWorld made its offer for G4S public on Sept. 14.
Reporting by Aishwarya Nair and Pushkala Aripaka in Bengaluru; Editing by Vinay Dwivedi
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