Latest on G4S Takeover: State Officials Want More Transparency From Allied, GardaWorld
The private-equity led bids for G4S has raised concerns that it could harm working conditions for security guards worldwide.
LONDON — State officials from Oregon and Illinois are calling for increased scrutiny of the potential takeover of G4S, which has pitted Allied Universal and GardWorld in an extended acquisition battle.
The private-equity led bidding for London-based G4S has raised concerns among unions as well, with concerns that a takeover could harm working conditions for hundreds of thousands of low-wage security guards worldwide, the Financial Times recently reported.
With operations in 83 countries, G4S staffs around 530,000 employees, providing guarding to embassies, prisons and justice services, sports stadiums and music events.
If either Allied Universal or GardaWorld succeeds in the bidding, the combined company would be one of the world’s largest private-sector employers.
The state treasurer of Illinois, Michael Frerichs, whose office manages about $35 billion and invests in private equity funds, urged institutional investors to demand greater transparency from both suitors, the Financial Times reported.
“Neither bidder has disclosed to us key aspects of their business plan, including how to manage opportunities and risks in the event of a merger,” Frerichs said in an online forum. “The vast majority of these employees are essential workers, raising the stakes for all stakeholders to review this transaction.”
Tobias Read, the state treasurer for Oregon, expressed he wanted to “learn more about how the companies will handle complicated questions”, including how to protect their workers’ health amid the pandemic. “Some corporations don’t really listen to smaller investors . . . as elected officials we tend to have a larger megaphone,” he said.
Oregon and Illinois have both previously committed funds to Allied owner Warburg Pincus. The European Works Council, representing G4S employees, has also written to shareholders calling for bidders to both rule out job losses and adhere to pledges on ethical investment, according to the Financial Times.
This past December, G4S reached a deal to be acquired by Allied Universal Security Services for $5.1 billion, after initially rebuffing a takeover bid from Allied Universal in November.
G4S first announced Oct. 9 that it had received an expression of interest from privately-held Allied Universal for a possible offer for the company. Canada’s GardaWorld had also put forward an offer of $2.48 a share for the company, which was rejected.
Allied boosted its offer to $3.26 per share, according to an announcement. G4S directors said they planned to unanimously recommend the deal to shareholders.
The offer beat out GardaWorld’s latest proposal of $3.13 per share, representing a 68% premium to G4S’s last close before announcing the initial takeover approach. Allied has committed financing and signed a preliminary agreement for future funding of G4S’s pension scheme, according to the announcement.
GardaWorld has said it is in discussions with its banks as to how much it could raise its offer for the G4S business.
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I believe that if G4S get taken over the security staff will catch hell, and have lower pay so no I don’t agree with the take over or buy out.
Site guards are NOT considered essential workers and are left on their own conserning protecting themselves during this escalating global pandemic. We are at high risk and may even be super spreaders.
Allied universal does not treat all race equal, for many years they have been cruel to brown skin color Hispanic people , the best company is Guardaworld they will treat everyone equal
Allied Universal have really bad managers, they threat bad to their employees, to much descrimination they don’t pay all your money from your OT.as a Spanish lady they descriminating myself and much more. I work for G4’s and they take care every security officer according with your family and personal needs. I love G4s’s
I agree the do not give us overtime period angel Yates
No, way leave G4s alone we don’t need Allied Universal that is with U.S security. The worst two security companies to work for. G4s treat security officer s better. Pay and overtime also
Allied treats people of color better cause they know they can pay em less n won’t complain. Supervisors are very inexperienced
Having worked for both Companies I believe they will meld into the Premiere Security Guard Service in the World and pave way for a more fair and equal Working Environment.
Just look at all the lawsuit Allied has been sued by their employees for not paying then for regular hours, overtime, having to work off the clock. They put there employees on duty lunch and still don’t pay out correctly. There insurance that they offer all employees is so high no one can’t effort it. If you have any issues about your job you can’t even get a manager to call you back or help you. Terrible company to work for!
Allied lies to their employees i use to work for Allied now im with G4S takeover or buyout ahould not happen i left Allied for a reason .
I think neither should get G4S. Worked for Both Guardaworld and Allied. Both backtrack on promises.
Recently there was a retention bonus offered to our group from Allied. And after loosing the contract, they dropped the program 1/2 of the way through it, told us we will only get one more segment of what we were promised, and have held it up for ten weeks now As it “needs a signature from the CEO.”
Security officers are, contrary to an inaccurate comment above by Mashburn ARE, quite often, essential staff, particularly at venues such as hospitals, financial institutions, and so on. Additionally, in case Mashburn has not been keeping abreast of the news, security officers are considered first responders, although not generally at the same level as EMTs, law enforcement and the like. Security officers, at least at the site at which I am employed, are considered, and expected to act as professionals. Mashburn, perhaps you should THINK before you disgorge “diarrhea of the mouth…”
Some, such as Mashburn, who post inaccurate remarks, should THINK prior to blabbing. Others should learn to speak/write the “Queen’s English” accurately and appropriately so they don’t sound as if they only have a third-grade education…
Allied has been buying up small security companies all over the US for years. Allied’s account & district managers are motivated by their BONUSES! They have managers that don’t know how to do scheduling, payroll or interpersonal communication with officers. And they will screw you out of anything at every turn! Can’t be trusted as an employer!
Allied Universal treat some employees terrible work some to death and does not pay them properly and there’s no room for advancement I work there for five years was told I had to do mandatory overtime even though I had heart disease during a pandemic and I had to work during covid-19 is an essential worker I quit Christmas Eve 2020.
I worked for G4s and they don’t take care of there employees they font offer vacation pay you get a raise of 49 cents offer you a pay increase and take it away.make you stay over . no protection for working in hospitals and putting you in an area that your not trained for people do not get raises after a year or better .
Uhh, as an Allied Universal employee, I can honestly say that I’ve had nothing but good times with the company, and I’m stationed in NC. As a Rover, my pay is $14.50, per hour, and, OT is beautiful. I’m a black male at that too, and, I know this will sound bad – but I’m 19 and is already considered by corporate for advancement. I know I don’t have “experience” as much as everyone wants people to, but, with actual training, I can do it. I mean, I’ve only been with the company for 1.5 years.
I have worked for both Allied and G4s if you get a good site you will be OK if not find some other place to work. There are a lot of security companies and as long as you keep your card current you can find what you need. Give Allied a chance you may like it.
I currently work for G4S and I’m not sure if it’s just my site supervisor or what but this company and what they represent is a joke. They lie to get you in the door, do not have proper uniforms for the sites they assign you to (3 of us at my site have had to buy our own stuff because they simply “didn’t have it to give to us”), have incredibly high turn around rates at majority of their sites and chose site supervisors based solely off of what their resume says and not whether or not they can perform the job to meet even the bare minimum requirements. I am excited for the take over. I interviewed with Allied Security and was seriously contemplating making the switch but thankfully now it has been decided for me. The site I interviewed at had a higher starting pay, actual site supervisors and shift supervisors with LEO and military experience and training and presented themselves in a far more professional demeanor than G4S ever has. You could almost feel the structure interviewing with Allied. It was impressive to say the least. I am former Corrections and am currently training to be a LEO.
What about long service employees who r currently working for g4s
when is the take over actually going to happen, Does allied become union or nonumion shop
As a person of color, I am honored to be a part of Allied Universal. Some of you are misjudging my company and I do not appreciate it. I am a descendent from both Mexican and Puerto Rican races. Never has Allied ever shamed or discriminated against me based on my color. We define our security professionals by your work ethic, how you present yourself, and how punctual you are. We run a tight ship but we care about and love all of our Security Professionals. That is why we are one of the top security companies in the world. We are all allied in Allied Universal– everyone has your back. My client manager is one of the greatest people that I’ve had the honor to serve under. His nombre uno rule is, “Always do right by people”…He’s taught me that lesson many times. He’s shown me how to not only be a better security professional, but most importantly he showed me how to be a better person and a remarkable leader. I love Allied Universal, and if you’re a motivator who’s ready to excel and not only be a security guard but a security professional, then come on to Allied Universal.
Together we are Allied!
will Allied keep G4s managers in place? I hope not they all need to go that is what is wrong with the company
I don’t agree with that allied should leave G4S alone not to confused people G4S is a good company which treats employees in a good way so allied should not make employees to leave work. Thanks
Allied must know that G4S has been paying employees in time not to delay with payment and not to reduce salary since it’s a new company they must increase the salary not the current one