G4S agrees to £3.8bn takeover by US rival Allied Universal

Security firm with raft of UK government contracts accepts improved 245p a share offer

Security firm G4S has agreed to a sweetened takeover offer from its US rival Allied Universal Security Services, which values the British company at 3.8bn.

Under the terms of the cash offer, G4S shareholders would receive 245p a share. This is an improvement on the 210p a share previously offered by Allied Universal, which G4S said significantly undervalued the company.