The G4S board has thrown mud back at GardaWorld after the latter party accused the current management of G4S as lacking and not being capable of growing the business.
A scathing attack was launched by GardaWorld yesterday after it confirmed it was looking to push through its takeover plan by winning over key shareholders.
Reaffirming that the offer of 190p per share undervalues G4S, the company ripped into GardaWorld and disputed many of its claims it made yesterday.
Namely it noted that GardaWorld itself has a record of being a loss making company and reported net losses attributable to shareholders of C$940 million in the past three years.
G4S also placed doubt that the potential acquirer has the international scale to take G4S global.
Ultimately it concluded for shareholders to reject the offer and take no action.
The share price of G4S remained relatively unchanged at 201p following today’s announcement.