Home Business News G4S shares tumble

G4S shares tumble

by LLB Reporter
7th May 19 10:25 am

Shares in G4S have been rocked after Canadian security company Garda World Security have pulled out of a potential £3bn bid for the company.

In April Garda said they were in preliminary stages of approach the board at G4S for a cash offer for all or part of the security firm.

Over the weekend Garda pulled out and said they do not intend to make an offer for G4S. In early morning trading on Tuesday shares in G4S tumbled by more than 6% to 202p.

G4S said, “Our aim is to establish two strong independent businesses that are able to take advantage of their leading market positions and excellent service offerings for the benefit of customers, employees and shareholders.

“The group is making good progress in its plans to enable it to commence separation of the cash business in the second half of 2019.”

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