G4S has rejected turn down an offer from Allied Universal to acquire the company for 210 pence per share, which values the UK-based guard services and security technology provider at $4.2 billion.

G4S said that it rejected the offer because it was “highly conditional” and felt it “significantly undervalues” the company and its prospects.
Last month, GardaWorld attempted a hostile takeover bid for G4S, offering nearly $3.8 billion for the company, which called the offer “unattractive” and “opportunistic”.

G4S plc is security services company headquartered in London, England, establish in 2004 when London-based company Securicor merged with Danish security business, Group 4 Falck.