UK regulators to end bidding war for G4S with auction: Reuters

UK regulators said the $5 billion-plus bid battle for British security company G4S will be settled by a rare head-to-head auction later this month if one of its two North American suitors hasn’t prevailed by then, reported Reuters.

UK regulators said the $5 billion-plus bid battle for British security company G4S will be settled by a rare head-to-head auction later this month if one of its two North American suitors hasn’t prevailed by then, reported Reuters. The takeover panel’s decision comes after Canada’s GardaWorld and US-based Allied Universal have both extended deadlines for their offers. GardaWorld, a security and cash services provider, is backed by BC Partners.

Source: Reuters