Canada's GardaWorld to not raise bid for security firm G4S further

Canada-based GardaWorld said on Monday it would not raise its offer for Britain's G4S Plc further, appearing to leave the way clear for the higher bid lodged by rival Allied Universal to succeed after regulators ordered an auction to conclude the battle over the company.

Allied has already bid 245 pence per share for G4S, whereas GardaWorld said that its earlier 235 pence offer was final and that it would not overpay.