Cintas Corp

CTAS: XNAS (USA)
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Cintas: Bid for Third-Largest Uniform Rental Company Would Accelerate Industry Consolidation

On the morning of Jan. 7, Cintas made public its proposal for an all-cash acquisition of UniFirst for $275 per share, over a 60% premium to UniFirst's Jan. 6 share price. This is not Cintas’ first attempt at approaching UniFirst, but the news sent UniFirst shares up over 25%. We’ve left Cintas’ fair value estimate unchanged to reflect the uncertainty of a successful acquisition.

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