Caisse-owned U.S. company cuts the rug from under Garda’s foot

Caisse-owned U.S. company cuts the rug from under Garda’s foot

Montreal-based security services firm GardaWorld appears to have bitten the dust to acquire Britain’s G4S, after an American rival owned by the Caisse de dépôt et placement du Québec struck a deal with G4S on Tuesday.

Allied Universal Security Services has agreed to pay 245 pence per G4S share for a total of 3.8 billion pounds ($ 6.51 billion) in a merger approved by the management of the two companies. That’s about 4% more than the offer of 235 pence per share, for a total of 3.68 billion pounds (C $ 6.35 billion), made by GardaWorld last week.

Unless it improves this offer, the Montreal company has lost its bet to get its hands on G4S. Last week, GardaWorld said its latest proposal was final.

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