UniFirst Confirms Termination of Strategic Discussions With Elis

MT Newswires Live10-05 01:04

UniFirst (UNF) confirmed Friday its discussions with Elis about a rumored takeover offer have ended.

Elis made a a non-binding offer to acquire UniFirst as part of its potential entry into the US market. However, UniFirst's board recently rejected Elis' non-binding proposal, Bloomberg reported earlier.

UniFirst said that at this time it does not expect to hold any future talks with the French company.

Earlier in the day, Elis said such discussions with both UniFirst and Vestis (VSTS) have been terminated.

UniFirst said it believes it has "significant long-term potential" and is excited about its investments.

UniFirst shares were marginally lower in recent trading.

Price: 196.82, Change: -0.19, Percent Change: -0.10

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