Firms turn to security as threats to bosses rise Business British businesses are bolstering security measures for their chief executives faster than any other country in Europe, in the face of rising threats to bosses’ personal and cyber security. According to a fresh report examining rising threats to executives across the world, over a third of the UK’s chief security officers (CSOs) believe bosses in [...]
Calls to overhaul ‘antiquated’ trial rules grow as SFO forced to drop G4S case SFO The UK’s Serious Fraud Office (SFO) on Friday said it would be dropping its case against three former G4S executives over claims they defrauded the UK government of tens of millions of pounds. The collapse of the SFO’s case came after G4S itself took responsibility for the fraud that saw it mislead Britain’s Ministry of Justice [...]
Charges dropped against three former G4S executives accused of defrauding taxpayers g4s Charges have been dropped against three former executives of G4S’s electronic tagging arm who were accused of defrauding the Ministry of Justice following a 10-year investigation. G4S Care and Justice Services had provided electronic monitoring services to the government from 2005 to 2013. The subsidiary of security giant G4S was accused of misleading the MoJ [...]
SFO under fire for ‘huge mistakes’ and wasting millions of taxpayers’ cash in 10-year probe of G4S March 10, 2023 The Serious Fraud Office (SFO) has come under fire for wasting millions of pounds of taxpayers’ money and making “huge mistakes” in its 10-year investigation into G4S’s electronic tagging arm as charges against three former executives were dropped. In September 2020, former managing director Richard Morris, former commercial director Mark Preston and former finance manager [...]
Union bosses warn of cash shortages at supermarkets as G4S workers vote to strike November 22, 2022 Some 1,200 cash and coin delivery workers employed by G4S are set to walk out, with union bosses warning of shortages at Tesco shops and JD Wetherspoon pubs. Union GMB said this would mark the first ever industrial action for G4S workers, with a strike set to begin at 3am on Monday 4 December. Some [...]
G4S shareholders accept £3.8bn Allied Universal offer March 16, 2021 G4S shareholders have accepted a £3.8bn bid from Allied Universal, bringing to a close a months-long battle between two firms to take control of the FTSE 250 company. Allied Universal said it had received valid acceptances representing roughly 79 per cent of the G4S share capital. The threshold was 50 per cent plus one G4S share. “My team and [...]
G4S backs auction winner Allied Universal in £3.8bn takeover bid, as Gardaworld bows out February 23, 2021 Private security and outsourcing firm G4S this morning recommended shareholders to vote for Allied Universal's final offer valuing it at £3.8bn, a day after a rare auction battle with Canada's GardaWorld.
GardaWorld refuses to raise G4S offer ahead of auction showdown February 22, 2021 Canadian firm GardaWorld will not raise its final offer to acquire G4S, leaving the field clear for Allied Universal to triumph in the bidding war. Ahead of a five-day Takeover Panel auction this week, GardaWorld has announced that it will not boost its proposal of 235p per share. Stephan Crétier, founder, chairman, president, and CEO [...]
Takeover Panel steps in to resolve £4bn G4S bidding war February 12, 2021 The Takeover Panel has today announced it will step in to resolve a long-running bidding war for security services firm G4S. For months two North American firms have locked horns over the FTSE 250 company, but no deal has yet been agreed. US giant Allied Universal is currently in the driver’s seat, as its 245p [...]
In-demand G4S hails ‘strong’ last quarter as takeover deadlines loom February 9, 2021 Security firm G4S this morning hailed a “strong” fourth quarter as the bidding war for the outsourcer approached its conclusion. The FTSE 250 firm said that it had achieved an “exceptional commercial performance” in the final period, with new and retained contracts worth £5.5bn. In a trading update, G4S said its cash flow benefited from Covid-19 payroll [...]