BUSINESS LIVE: FTSE starts the week on the back foot

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G4S suitor Gardaworld said its £3.7bn bid won


BUSINESS LIVE: FTSE starts the week on the back foot; G4S bidder Gardaworld refuses to improve offer

The FTSE 100 has begun the week slightly lower as investors await confirmation of Britain’s path out of lockdown today.

Details reported so far suggest there will still be some time to wait before customer facing business such as shops and restaurants can reopen.  

Canadian security giant GardaWorld said it will not be increasing its 235p-a-share offer for UK rival G4S as an auction process for the firm starts this week.

Bosses said the £3.7billion bid will not be increased, and warned that anything higher would overvalue G4S due to a series of unspecified corporate governance issues at the firm.

 G4S suitor Gardaworld said its £3.7bn bid won’t be increased due to governance issues

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