Canada’s security firm Garda World offers to buy G4S in 2.95 billion pound

(Reuters) – Canada’s private security company Garda World Security said on Monday it offered to buy British rival G4S GFS.L for 190 pence per share, valuing it at around 2.95 billion pounds.

Garda World said it encourages G4S shareholders to “mandate their board’s engagement” after the Canadian firm, which dropped its earlier interest for G4S in May last year, failed to engage with the G4S board regarding the current offer.

G4S shares jumped 23% to 179.8 pence in response to the offer.

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