May 5, 2019 / 7:58 PM / 4 months ago

Canada's Garda World drops interest in British rival G4S

FILE PHOTO: A G4S security van is parked outside a bank in Loughborough, central England, August 28, 2013. REUTERS/Darren Staples/File Photo

(Reuters) - Canada’s Garda World Security Corporation does not intend to make an offer for rival G4S, it said on Sunday, having previously said it was considering a cash offer for some or all of the British company.

Garda World had until May 8 to announce a firm intention to make an offer for G4S.

G4S confirmed that it had received no proposals from Garda World during the offer period.

The company also said it continues to focus on its previously announced review of options for its Cash Solutions business.

G4S added that since Garda World’s announcement the company has received additional expressions of interest to acquire the Cash Solutions operations as it looks to focus on its security operations.

Reporting by Sathvik N in Bengaluru; Editing by David Goodman

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