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G4S backs Allied Universal’s final $5.4 billion offer By Reuters

© Reuters. FILE PHOTO: Flags fly outside HMP Birmingham after the British government took over its running from G4S, in Birmingham

(Reuters) – Private security firm G4S (CSE:) on Tuesday recommended shareholders to vote for Allied Universal’s final offer that values the British firm at 3.8 billion pounds ($5.35 billion), a day after a rare auction battle with Canada’s GardaWorld.

Allied Universal in a separate statement said it has extended its offer period deadline for the 245 pence per share G4S offer to March 16 and the acceptance conditional was lowered to 75% in nominal value and voting rights of G4S shares from 90% earlier.

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