Feb. 10 at 3:06 PM
UniFirst Corp. is in active talks to be acquired by Cintas Corp., according to a Bloomberg report. Sources said discussions resumed after Cintas renewed its offer in December to acquire UniFirst for
$275 per share, a substantial premium to UniFirst’s recent closing price. Shares of UniFirst jumped in premarket trading following the report.
The talks follow years of intermittent takeover attempts by Cintas. The company first made the
$275-per-share offer in early 2023 but withdrew it after failing to engage UniFirst in meaningful negotiations. UniFirst CEO Steven Sintros recently acknowledged the renewed proposal, saying the board is working with advisers to evaluate whether the offer is in the best interest of the company and its shareholders.
$UNF $CTAS