The world’s largest privately-owned security services company has walked away from a deal to buy G4S.
GardaWorld confirmed that it no longer intends to make an offer for the UK-headquartered multinational security services in a deal that could have eclipsed £3 billion.
Last month the Canadian-headquartered business – which provide cash, security and staffing services – confirmed it was “in the preliminary stages of considering an approach to the board of G4S regarding a possible cash offer for the Company, or a part thereof”.
The confirmation, which followed media speculation, led to shares rising in G4S by more than 20 per cent.
However, it no longer intends to make the offer for G4S – the largest secure outsourcing company in the world with a presence in more than 90 countries and almost 600,000 employees.
G4S reported a profit of £7.2 billion in profit in 2018.
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