UniFirst Shares Jump 15.8% on Cintas Acquisition Talks at $275+ Premium
UniFirst shares surged 15.8% after reports that Cintas entered advanced talks to acquire the company at over $275 per share, triggering a trading halt at fresh highs. The discussions imply a valuation north of $5.2 billion and reinforce UniFirst’s 37.1% year-to-date gain.
1. Stock Surge on Acquisition Talks
Shares of workplace uniform provider UniFirst jumped 15.8% during the afternoon session after reports that Cintas entered advanced talks to acquire the company at a significant premium. Trading was briefly halted as the stock reached an all-time intraday high.
2. Potential Deal Valuation
Discussions reportedly value UniFirst at over $275 per share, implying a valuation above $5.2 billion. That price represents a substantial premium over the prior closing level and underscores the attractiveness of UniFirst’s market position.
3. Performance and Historical Context
This surge marks one of only eight moves greater than 5% in the past year for UniFirst and follows last December’s receipt of a non-binding $275 per share proposal. The stock is up 37.1% year to date and has established a new 52-week high at $265.51 per share.