On January 7, 2025, Cintas Corporation (CTAS, Financial) announced a significant proposal to acquire all outstanding common and class B shares of UniFirst Corporation. The offer is set at $275.00 per share in cash, marking a strategic move by Cintas to expand its market presence.
The proposal was officially communicated to the Board of Directors of UniFirst, and Cintas has made public all six letters of correspondence exchanged between the two companies since November 8, 2024. This transparency underscores Cintas' commitment to the acquisition process.
BDT & MSD Partners is serving as the financial advisor for Cintas, while Davis Polk & Wardwell LLP is providing legal counsel. The proposed acquisition is subject to further developments, and Cintas may file additional documents with the SEC, including registration statements and proxy statements, to facilitate the transaction.
Investors and security holders are encouraged to review these documents carefully when they become available, as they will contain crucial information regarding the proposed acquisition. Cintas emphasizes that this announcement does not constitute an offer to sell or a solicitation of an offer to buy any securities.
This strategic acquisition, if successful, could significantly enhance Cintas' operational capabilities and market reach, offering potential value to shareholders. As the situation develops, stakeholders are advised to stay informed through official filings and announcements.
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