Stéphan Crétier, the boss of Gardaworld, did not mince his words last week when he revealed his £3 billion bid for G4S, a British rival of the private equity-controlled Canadian security company.
“G4S needs an owner, not a manager,” the baseball umpire turned entrepreneur declared as Gardaworld announced its 190p-a-share takeover proposal to the London stock market. “We know how to improve and repurpose this business.”
Ashley Almanza, chief executive of G4S, has spent the last seven years trying to turn around what is the world’s largest security company. Its board claims that the revival of the business is now “at a very important inflexion point”.
Yet Mr Crétier argues that the publicly quoted G4S would be better off in the hands of Gardaworld, a
