(Reuters) - Canadian private security company Garda World Security [GRWSC.UL] said on Monday it offered to buy British rival G4S <GFS.L> for about 2.95 billion pounds, seeking to turnaround the London-listed firm.
The 190 pence per share offer represents a premium of about 30% to G4S' last close. G4S' shares jumped 23% to 179.8 pence in response to the offer.
"Our valuation offers a certain path for G4S's shareholders to immediately recover lost value," said Stephan Crétier, founder and Chief executive of Garda World.
G4S did not immediately respond to a request for comment.
On Monday, Garda World encouraged G4S shareholders to "mandate their board's engagement" after the Canadian firm, which dropped its earlier interest for G4S in May last year, failed to engage with the G4S board regarding the current offer.
Garda World, which provides armored cars, cash-handling services and automated teller machine maintenance, said in a statement it first approached G4S on June 15.
The Canadian security services firm, in which private equity firm BC Partners bought a majority stake in July 2019, said the cash consideration under any deal would be financed by a mix of new third-party debt and additional equity by BC Partners.
(Reporting by Yadarisa Shabong in Bengaluru; Editing by Shinjini Ganguli)