Shares in G4S have surged after Canadian security firm Garda World Security confirmed it is considering a takeover of the British firm.
Garda said that it is in the preliminary stages of considering an approach to the board of G4S regarding a possible cash offer for all or part of the company.
G4S shares jumped over 24 per cent to 230p following the news.
Based on its market cap, G4S is worth more than £3 billion.
READ MORE: Glasgow and Edinburgh feel impact of turmoil in retail sector
Garda describes itself as the "world's largest privately owned security company". Founded in 1995, it now has over 60,000 workers and operates across the world.
Asda has clashed with a union over claims it proposed changes to employee contracts which will boost pay but cut paid breaks.
The supermarket said the move would simplify terms for hourly paid retail workers by replacing six different contract types with one standardised option.
The proposals would increase the basic hourly rate to £9 per hour for all retail employees, and would still include the benefits of an annual bonus, colleague discount, sharesave and pension.
However, staff will also be asked to work more flexible times such as on bank holidays while breaks would no longer be paid.
The GMB Union called for the retailer to negotiate the contracts.
Dunelm has unveiled soaring sales in the third quarter and a boost to profit expectations as it gears up for another scorching summer.
Like-for-like sales at the home retailer were up 12.5% in the 13 weeks to March 30, with growth both in stores and online.
Comparable sales in shops were up 9.8%, versus significantly weaker growth last year when shoppers were put off by the Beast from the East.
Online revenue was up 32.1% in the period.
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