In a large saucepan, bring the broth, milk, butter, salt and pepper to a boil. Slowly stir in grits. Reduce heat. Cover and cook for 12-14 minutes or until thickened, stirring occasionally. Stir in cheese until melted. Set aside and keep warm., In a large skillet, cook bacon over medium heat until crisp. Remove to paper towels with a slotted spoon; drain, reserving 4 teaspoons drippings. Saute the shrimp, garlic and seasoning in drippings until shrimp turn pink. Serve with grits and sprinkle with onions.