Canada’s Garda World considering a bid for outsourcer G4S (GFS). Security company confirms it is looking at making cash offer for all or part of UK group. Canada’s Garda World Security has confirmed that it is considering making a cash offer for some or all of the UK outsourcing company G4S. G4S shares jumped 30% on the news,heading for their biggest single-day gain and lifting the company’s market value to about £3.8bn. The world’s largest security company, G4S has UK government contracts to run facilities including prisons and immigration centres, as well as providing security staff for a wide range of organisations and live events. It also operates a range of outsourced services for the NHS. The statement from privately held Garda World came after the London Evening Standard reported market talk of a potential bid. G4S declined to comment on the report.
Indivior shares crash 74% after US charge over opioid scheme. British company accused of illegal marketing of Suboxone Film to drug addicts. The British pharmaceutical company Indivior (INDV) had more than £560m wiped from its market value on Wednesday after the US justice department charged it with fraudulent marketing of its treatment for people addicted to opioids. The indictment demanded the forfeiture of $3bn in cash, as well as all of Invidior’s main business divisions, bank accounts, trademarks and patents – effectively meaning the company would cease to exist if found guilty. A grand jury in the federal court in Abingdon, in the US state of Virginia, said Indivior marketed Suboxone Film, an opioid-based drug, as a safe and controllable treatment for opioid and heroin addiction. However, the indictment on Tuesday said that Indivior – until 2014 part of Reckitt Benckiser – sought to boost sales by telling healthcare providers and programmes that Suboxone Film, which contains the opioid buprenorphine, was better and safer than similar drugs, when in fact it was not.
Tesco says shoppers are feeling ‘Brexit fatigue’ but not stockpiling. Supermarket’s chief executive Dave Lewis says consumer markets have remained stable. Tesco (TSCO), Britain’s biggest retailer, says shoppers have not changed their behaviour ahead of Brexit and are not stockpiling despite an “uncertain” outlook. The group, which reported a 28% increase in profits for last year, said it had almost completed a turnaround, kicked off four years ago after an accounting scandal and a slump in performance. “It’s been a very, very good year,” said the chief executive, Dave Lewis. “We have strong plans and a very strong platform for the future.” While shoppers were expressing “Brexit fatigue” in customer surveys, Lewis said, consumer markets remained stable and a rise in inflation in recent months was within industry norms.
