UniFirst falls after Cintas says it has terminated acquisition talks

Cintas

25/03/2025 13:03

** Uniform supplier UniFirst's UNF.N shares down 10.41% at $177 premarket

** Competitor Cintas CTAS.O said on Monday it had terminated discussions to acquire UniFirst

** UniFirst in early January had rebuffed a takeover proposal from Cintas for $275 per share in cash, saying it was confident of its strategy as a standalone company

** Cintas has also disclosed that UniFirst rejected its bid twice and snubbed attempts to engage in discussions

** UNF stock has risen 15.48% YTD, CTAS stock up 6.50% YTD, as of last close

 (Reporting by Aamir Sohail in Bengaluru)

 ((Aamir.Sohail@thomsonreuters.com;))