G4S nearing £3.8 billion takeover

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The security firm is nearing  is nearing  a 3.8 billion-pound ($5.2 billion) takeover by Allied Universal Security Services LLC after the closely held U.S. company prevailed over a rival suitor.

Allied previously declared its 245 pence tender offer final and lowered the minimum threshold for shareholders getting on board to 75% from 90%, according to a statement Tuesday.

G4S said separately that its board unanimously recommends that shareholders accept Allied’s offer.

Allied emerged as the winner in a long-running competition for G4S on Monday. Although U.K. regulators had set the stage for a final battle with Garda World Security Corp., in the end Allied’s Canadian rival declined to improve its 235-pence proposal and the auction was ended.

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