G4S shareholders have until March 16, 1300 GMT, to accept Allied Universal’s $US5.3 billion takeover bid, before it will lapse.

Allied Universal lowered the acceptance condition for its offer to buy the London-based security services provider to 50 per cent plus one share on March 8.

Allied Universal said last Friday it had obtained most the required antitrust and regulatory approvals and foreign direct investment clearances required for acquisition.

G4S’ board has supported Allied’s bid and has made a recommendation for its shareholders to vote to accept the acquisition.

The merger of Allied Universal and G4S will create a security company with an $18B annual turnover and a workforce of 750,000.