(RTTNews) – Garda World Security Corp., which has offered to acquire security company G4S plc (GFSZY.PK, GFS.L), on Wednesday said it has raised its final cash offer to 235 pence per G4S Share, valuing the company at 3.68 billion pounds.

The company also reduced its acceptance condition to 50% plus one G4S Share from 90%. The company has set the deadline for acceptances on December 16.

Garda World, through its unit Fleming Capital Securities Inc., made the offer, saying its final.

Garda World also said it has reached an agreement with the G4S UK Pension Trustee on a 770 million pounds support package comprising cash and other measures.

The proposed acquisition has been cleared by competition regulators in both the United States and the European Union a

According to Garda World, the revised offer represents an immediate premium of approximately 130 percent to the closing price of 102 pence per G4S Share on June 12, being the last Business Day prior to the first approach made by GardaWorld.

It also represents a premium of 61 percent to the Closing Price on September 11, being the last Business Day before commencement of the Offer Period.

G4S last week had urged shareholders to take no action in relation to GardaWorld’s offer, noting that the company is now well-positioned to accelerate sustainable profitable growth, and is confident to deliver financial targets including free cash flow in excess of 1 billion pounds from 2021 to 2025.