Securiguard to release results in bid battle

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The Independent Online
SECURIGUARD, the office cleaning and security group fighting a hostile bid from Rentokil, said yesterday it expected to benefit from plans to privatise the prison service.

The company also disclosed that it will release its interim results before the close of the Rentokil offer, which values Securiguard at almost pounds 60m. The results are expected to support Securiguard's argument that its businesses are starting to benefit from the end of the UK recession.

Alan Baldwin, Securiguard's chairman, said in a defence document yesterday that Rentokil hoped to secure a bargain at the expense of Securiguard shareholders. Its offer of 270p a share was derisory.

Clive Thompson, Rentokil's chief executive, said the document held no new information and he still expected to meet with Securiguard's board to secure a recommendation.