Deals of the day-Mergers and acquisitions

Cintas

07/01/2025 14:39

(Adds: Cintas, Paychex, Ryan Specialty, GFL Environmental,
Getty Images, Guy Carpenter   Updates: Julius Baer)
       Jan 7 (Reuters) - The following bids, mergers,
acquisitions and disposals were reported by 1430 GMT on Tuesday:

    ** Uniform rental company Cintas  CTAS.O  said it has
submitted an offer to buy UniFirst  UNF.N , valuing the uniform
supplier at about $5.3 billion.
     urn:newsml:reuters.com:*:nL4N3O3115
    
    ** HR management firm Paychex  PAYX.O  said it has agreed to
acquire payroll processing firm Paycor  PYCR.O  for about $4.1
billion in cash.
     urn:newsml:reuters.com:*:nL4N3O313Y

    ** Ryan Specialty has agreed to acquire property cat-focused
MGA Velocity Risk Underwriters from private equity sponsor
Oaktree Capital Management in a $525mn cash deal, with property
mutual giant FM acquiring Velocity Specialty Insurance Company
(VSIC).
     urn:newsml:reuters.com:*:nL6N3O30H9

    ** GFL Environmental  GFL.TO  said it would sell its
environmental services division in a deal valued at C$8 billion
($5.59 billion), as the Canadian waste management company aims
to pare debt and buy back shares.
     urn:newsml:reuters.com:*:nL4N3O30T4

    ** Getty Images  GETY.N  said it would merge with rival
Shutterstock  SSTK.N  to create a $3.7 billion stock image
powerhouse geared for the artificial intelligence era, in a deal
that would likely draw antitrust scrutiny.
     urn:newsml:reuters.com:*:nL4N3O30U9
    
    ** Julius Baer  BAER.S  said it had agreed to sell its
Brazilian domestic wealth management business to Banco BTG
Pactual  BPAC3.SA , days before Stefan Bollinger takes over as
chief executive after a difficult year for the Swiss bank.
     urn:newsml:reuters.com:*:nL8N3O30B9
    
    ** Guy Carpenter has completed its acquisition of the
remaining 51.5 percent of shares in Athens-based reinsurance
broker Carpenter Turner.
     urn:newsml:reuters.com:*:nL6N3O30EQ

    ** Dutch computer chip maker NXP said it has agreed to buy
Austria's TTTech Auto for $625 million, to strengthen its
automotive operations.
     urn:newsml:reuters.com:*:nL1N3O308I

    ** U.S. oil refiner Phillips 66  PSX.N  said on Monday it
will acquire EPIC Y-Grade GP and EPIC Y-Grade in an all-cash
deal for $2.2 billion.
     urn:newsml:reuters.com:*:nL4N3O21JD
    
    ** Medical device maker Stryker  SYK.N  on Monday agreed to
acquire Inari Medical  NARI.O , which makes devices that treat
patients with venous diseases, in an all-cash deal worth $4.9
billion.
     urn:newsml:reuters.com:*:nL1N3O2103

 (Compiled by Rajarshi Roy and Ateev Bhandari in Bengaluru)
 ((ateev.bhandari@thomsonreuters.com;))