Allied Universal says it has “satisfied or waived all of the required offer conditions, including the required antitrust and regulatory approvals” enabling the acquisition to complete.
At the offer price of 245p per G4S share, the acquisition value is £3.8 billion.
The acquisition will see the creation of a world-wide integrated security business. Allied Universal is now the 3rd largest employer in North America and the 7th largest employer in the world.
Steve Jones, Chairman & CEO of Allied Universal said: “This is truly a very significant moment in Allied Universal’s history. Our vision is not only to be the best security company but to be the best corporate services partner in a world of evolving risk. I look forward to working with Ashley Almanza and G4S’s senior management team through the integration process with the goal of establishing a global leader, equipped to lead the industry through the next phase of its development. Together, we will deliver the highest value proposition to customers in the security industry.”
Ashley Almanza, CEO of G4S. commented: “Steve and his team have created a world class security business in North America, and I have enormous respect for the business they have built.
“The combination of the skills, experience and talents in our two companies creates a unified business that will be unmatched in every important dimension including scale, coverage, employee opportunity, innovation and customer experience and, of course, performance. I look forward to working alongside the Allied Universal team to deliver the considerable benefits that I know this combination can achieve.”