StockMarketWire.com - Shares in security company G4S surged on Monday after it received a £2.95bn hostile takeover bid from Canadian rival Garda World Security.

G4S jumped 24% to 181.55p after private-equity-backed Garda offered 190p cash per G4S share.

Garda said it had made three attempts to engage with the G4S board over the last three months.

'Our valuation offers a certain path for G4S's shareholders to immediately recover lost value,' Garda chairman Stephan Cretier said.

'We encourage shareholders to ask G4S's board to begin engaging with us.'


At 1:20pm: [LON:GFS] G4S PLC share price was +35.3p at 181.2p



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