Mar. 25 at 6:18 PM
$UNF: While Cintas (
$CTAS) endures modest losses today, UniFirst (-13.6%) is selling off to its worst levels of the year after CTAS terminated discussions with UNF surrounding its January proposal to acquire the firm for
$275.00 a share, a 46% premium to UNF's 90-day average price. Shortly after CTAS, a prominent business equipment supplier, announced its proposal to purchase UNF, a similar uniform rental firm, UNF rejected the unsolicited offer.
However, many investors were confident that a deal would ultimately be made, keeping shares of UNF over 30% higher from its closing price immediately before the proposal. Nevertheless, as time passed and few details emerged, doubt started to creep in, causing UNF to steadily slide lower in the following weeks, only to sink toward levels from before the January proposal today after CTAS terminated the M&A discussions. https://www.briefing.com/story-stocks/archive/2025/3/25/unifirst-sells-off-marks-lows-on-the-year-after-cintas-(ctas)-ends-acquisition-discussions-(unf)?utm_campaign=storystocks&utm_medium=social&utm_source=st&utm_content=link