UniFirst jumps on report Cintas makes $5.1 bln takeover offer

• January 7, 2025

** Shares of UniFirst UNF up ~39% at $235.80 premarket

** Uniform rental firm Cintas CTAS makes $5.1 bln takeover offer for the provider of workplace uniforms and protective work gear, the Wall Street Journal reports

** CTAS proposed acquiring all of UNF's outstanding common and Class B shares for $275 per share in cash, report adds

** Offer price of $275 per share represents a premium of 62.4% to UNF's last close

** CTAS rose about 21% last year, UNF fell about 6%