UniFirst Says It Didn't Contact French Competitor Elis to Solicit Takeover Offer

Dow Jones10-05 01:04

By Sabela Ojea

UniFirst said it recently held discussions with French peer Elis, but didn't intend to solicit a takeover offer from the Paris provider of uniform-and-linen cleaning services.

The Wilmington, Mass., workwear company on Friday said in a news release that it contacted Elis to better understand market rumors related to Elis and its potential entry into the U.S. market.

Those talks have ended and, at this time, UniFirst said it didn't anticipate holding future discussions with Elis.

UniFirst's commentary about Elis came after Bloomberg on Thursday reported that Elis made an informal takeover proposal to UniFirst. This offer came after UniFirst reached out to Elis to gauge its appetite for a deal, following Elis' takeover approach to rival Vestis, Bloomberg reported.

Earlier Friday, Bloomberg reported that Elis had ended acquisition talks with the two U.S. competitors.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

October 04, 2024 13:04 ET (17:04 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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