- Security services provider G4S rejected a sweetened 190p a share offer from Garda World Security, as it 'significantly' undervalued the company.

Previous offers of 153p per share and 145p per share made in June were also rejected, the company said.

The company said it believed that the timing of the proposal was highly opportunistic, coming at a time of severe turbulence in global financial markets.

'Shareholders are strongly advised to take absolutely no action in relation to the new proposal,' it added.

Under market rules, GardaWorld must, by not later than 5.00 p.m. (London time) on 12 October 2020, either announce a firm intention to make an offer for G4S or walk away.

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