G4S rejects £1.55bn offer for subsidiary from Charterhouse

G4S stated that it had received a non-binding, indicative and conditional £1.55bn offer from Charterhouse for its cash solutions business on 22 October.

The company's board firmly rejected the offer, stating that the cash solutions services division is core to G4S's operations and strategic plans. It also deemed Charterhouse's approach to be "highly opportunistic", before adding that the offer fundamentally undervalued the business.

G4S's cash solutions division notably handles money transportation. It is understood to be accounting for nearly a fifth of G4S's turnover.

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• Topics
• Buyouts
• Support services
• Charterhouse Capital Partners