Market Chatter: UniFirst Rejected Takeover Offer From Elis

MT Newswires Live10-04 16:54

UniFirst (UNF) received an informal takeover offer from French peer Elis, Bloomberg reported Thursday, citing people familiar with the matter.

UniFirst inquired about a possible deal with Elis after Elis' takeover approach to Vestis (VSTS) became public last month, the report said. But UniFirst's board rejected Elis' non-binding proposal in recent days, the report said.

The two companies are no longer in talks, while Elis continues to negotiate with Vestis, Bloomberg reported.

UniFirst, Elis, and Vestis did not immediately reply to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 198.05, Change: +1.04, Percent Change: +0.53

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