UniFirst Shares Down After Cintas Ends Deal Talks

Dow Jones03-24

By Josh Beckerman

UniFirst shares were down 10% to $178.00 in post-market trading after Cintas said it terminated talks about potentially buying the company.

In January, the workplace products company Cintas said it proposed buying UniFirst for $275 a share, implying a total value of about $5.3 billion. The uniform supplier rejected the offer, citing the price, execution risks and feedback from large shareholders, as well as its own growth prospects.

"While we continue to believe in the merits of a transaction, we were unable to have substantive engagement with UniFirst regarding key transaction terms," Cintas said Monday.

Shares of Cintas were flat in after-hours trading at $194.57.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

March 24, 2025 17:11 ET (21:11 GMT)

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