Cleary Gottlieb is acting as lead counsel to Allied Universal in its recommended offer to acquire the entire issued and to be issued share capital of G4S for 245 pence per share.
The transaction has an aggregate equity value of approximately £3.8 billion. The transaction was announced on December 8, 2020. The G4S board of directors have announced that they intend to unanimously recommend that G4S shareholders accept the Allied Universal offer and reject the offer made by GardaWorld.
The combination of Allied Universal and G4S will create a world leader in integrated security business with revenues of approximately $18 billion, operations in more than 90 countries, and an extensive portfolio of blue-chip clients across the public and private sectors. Bringing together the companies’ cutting-edge smart technology solutions and manned guarding businesses will create a global one-stop shop for customers.
Cleary is also acting as global antitrust counsel to Allied Universal, which announced that the transaction has already cleared U.S. antitrust review, having received early termination of the applicable waiting period under the HSR Act on November 13, 2020. Allied Universal is in the process of obtaining all other required regulatory approvals. The transaction is expected to close in the first quarter of 2021.
For more information, please see the press release here.