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Changing of the guard

17 October 2011 By Quentin Webb

Private equity is offloading Danish outsourcer ISS to London-listed rival G4S for $8.2 bln – the same value it sought in March’s aborted IPO. So far, so good. But with the IPO market now shut, G4S has got away with paying partly in stock, and has avoided paying a massive premium.

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