GardaWorld bids £3bn to takeover their rival firm G4S as they believe that the company requires new management.

This news caused G4S shares to jump by 4%. However, the G4S board unanimously rejected the offer as they believe it undervalues the firm. 

The G4S has been looking to revamp their business after a series of issues starting back in 2012 with the London Olympic Games. 

The Canadian firm GardaWorld outlined plans that if they were to takeover the UK security company G4S then they would uphold their headquarters in London and honour all of their UK government contracts.

To read the full article you will need to be subscribed to the Financial Times