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GardaWorld to engage with G4S shareholders as takeover battle heats up

Oct 6 (Reuters) - Canadian security firm GardaWorld, which launched a hostile bid last month for larger rival G4S, said on Tuesday it will start engaging with key G4S shareholders this week after the British company repeatedly rejected its offers.

G4S, one of the world’s largest private security firm, last month rejected GardaWorld’s 190 pence per share offer valuing the London-listed company at 2.97 billion pounds, calling it “unattractive and opportunistic”.

“GardaWorld and BC Partners have a definitive plan to address G4S’s pensions issue and take this massive burden off shareholders’ shoulders,” the private equity-backed Canadian company said in a statement. (Reporting by Yadarisa Shabong in Bengaluru; Editing by Shailesh Kuber)

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