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(Reuters) - The G4S takeover saga finally came to an end on Tuesday after a majority of the security company s shareholders accepted a 3.8 billion pound ($5.28 billion) offer from U.S. rival Allied Universal, snubbing hostile Canadian bidder GardaWorld.
Allied Universal said it had received valid acceptances representing roughly 79% of the G4S share capital. The threshold was 50% plus one G4S share. My team and I look forward to working with Allied to support a successful integration of the two businesses, said G4S Chief Executive Ashley Almanza.
The merger between G4S and private-equity backed Allied Universal will create the world s largest private security company, generating more than $18 billion in revenue and employing more than 750,000 security guards and other staff.