Cintas Ends Talks To Buy UniFirst Over Disagreements

rttnews
2025.03.25 01:45
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Cintas Corp. has ended discussions to acquire UniFirst Corp. due to disagreements over key transaction terms. The proposed offer was $275.00 per share, a 46% premium over UniFirst's average closing price prior to the proposal. Cintas CEO Todd Schneider noted that despite recognizing the value of the deal, the lack of progress made further discussions unfeasible.

Cintas Corp. (CTAS) has announced its decision to discontinue discussions with UniFirst Corp. (UNF) about a proposed acquisition. The proposal offered $275.00 per share in cash, representing a 46% premium over UniFirst's 90-day average closing price as of January 6, 2025, prior to the proposal being made public.

Todd Schneider, President and CEO of Cintas, stated that despite weeks of engagement with UniFirst and its advisors, they were unable to find common ground on key terms of the transaction. He emphasized that while Cintas still sees value in such a deal, the lack of meaningful progress has led to the conclusion that further discussions are not worthwhile at this time.

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