Five miss £180m payday as GardaWorld quits G4S bid

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By Mike Turner
22 Feb 2021

GardaWorld, the Canadian security firm, has pulled out of its hostile bid for G4S, leaving the way clear for US rival Allied Universal.

Barclays, Bank of America, UBS, Bank of Nova Scotia, RBC and Toronto-Dominion Bank were lined up to finance GardaWorld’s £3bn ($4.23bn) bid, with the banks due up to £180m in fees.

But on Monday, GardaWorld said that it was not raising its offer from a revised amount of £2.35 ...

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