UK’s G4S, U.S.’s Allied Universal, and Canada’s GardaWorld are all in negotiations to buy one another. In the estimated US$244-billion global human security guard market, Allied Universal’s approximate US$4-billion acquisition of G4S is being rejected as “inadequate.”

Allied Universal on Oct. 28 tabled a ?highly conditional indicative offer? of at least 210 pence per share, subject to due diligence, G4S said in a statement Tuesday. The board rejected the proposal on the grounds it ?significantly undervalues G4S and its prospects,? it added, confirming an earlier Bloomberg News report.