UniFirst Stock Up 40% After Report Says Cintas Made a $5.1 Billion Takeover Offer -- Barrons.com

Dow Jones

Jan 07, 2025

Karishma Vanjani

UniFirst shares surged Tuesday morning following a report in The Wall Street Journal that Cintas, a competitor in workplace uniforms, has made an offer to acquire the company, valuing it at $5.1 billion.

Cintas, which offers first aid and safety and other uniforms, is proposing to pay $275 per share for all of Unifirst's outstanding common and Class B shares. That gives UniFirst an equity value of about $5.1 billion, the report said. The stock closed at $169.33 on Monday, implying a 62% premium to the value.

Unifirst's stock surged 40% to over $236 a share after the report.

The two companies haven't made any announcement, and Unifirst didn't immediately respond to Barron's request for comment.

Write to Karishma Vanjani at karishma.vanjani@dowjones.com.

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

January 07, 2025 08:48 ET (13:48 GMT)

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Barron's is published independently from Dow Jones Newswires and The Wall Street Journal. \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  January 07, 2025 08:48 ET (13:48 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU2506951958.HKD","symbol_name":"BNP PARIBAS SUSTAINABLE GLOBAL LOW VOL EQUITY \"CRH\" (HKDHDG) INC","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2501358204","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2501358204","pubTimestamp":1736257680,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"UniFirst shares surged Tuesday morning following a report in The Wall Street Journal that Cintas, a competitor in workplace uniforms, has made an offer to acquire the company, valuing it at $5.1 billion.Cintas, which offers first aid and safety and other uniforms, is proposing to pay $275 per share for all of Unifirst's outstanding common and Class B shares. 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That gives UniFirst an equity value of about $5.1 billion, the report said. The stock closed at $169.33 on Monday, implying a 62% premium to the value. \n\n\n     Unifirst's stock surged 40% to over $236 a share after the report. \n\n\n     The two companies haven't made any announcement, and Unifirst didn't immediately respond to Barron's request for comment. \n\n\n     Write to Karishma Vanjani at  karishma.vanjani@dowjones.com. \n\n\n     This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal. \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  January 07, 2025 08:48 ET (13:48 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}