After seeing the acquisition of the G4S by a US company that is partly owned by Guys de Depot et Placement to Quebec (CTPQ), Cordova World will get another chance to buy the London-based security company.
In a bid to put an end to a process that began several months ago, British regulatory authorities decided on Friday that there would be an auction process between US regulatory agencies Universal and Quebec multinationals.
Both companies will have the opportunity to make public the revised plans by February 20 with the goal of winning the G4S. Otherwise, sealed auctions must be offered by February 22 as part of the auction.
Last December, the G4S board approved the alliance’s offer, which is 4% more than Cardavorld’s latest venture – with a $ 6.7 billion offer per share of the London – based company.
But investors are slow to deposit their shares, hoping that Cardworld, founded and managed by Quebec Stephen Cretier, will return. At the same time, Allitez and Cardovorld have repeatedly extended the deadlines for their respective projects.
“We have not included anything in the regulatory process, especially against an American (rival) Allied company backed by CDPQ,” the Quebec company said in an e-mail statement.
Quebeckers Stocking is the second largest shareholder in Love, which holds approximately 35% of the stock. Mr. Critier criticized Cayce for having sticks on his wheels and was on the side of a company that wanted the same company as him.
The headline of the G4S closed at 267 pence on the London Stock Exchange on Friday, an indication that investors are expecting to file a higher offer, which was higher than the amount offered by the Allies.
“The ball is in Carda’s court,” said Tyler Debs, a London-based analyst for Louis Capital. The consensus here is that Carda will return with a chance. Consensus predicts that the Allies will win because they can achieve greater cooperation. ”
If the Allies succeed in purchasing the G4S, it will have about 750,000 employees in 80 countries, generating an additional annual revenue of US $ 18 billion. By comparison, Cardworld employs 102,000 people in North America, Africa, Asia and the Middle East.
As of December 31, CDPQ estimated its investment in Allied Universal at more than $ 1.5 billion, according to its latest annual report.
From 2019, the London-based P.C. Partners has been the largest shareholder in Quebec since reaching a $ 5.2 billion deal in exchange for a 51% stake. Mr. Creature holds 43% of the shares, the rest being owned by other executives of the company.