Cintas Ends Talks to Buy UniFirst After Failing to Reach a Deal

Cintas Corp. said it ended discussions to buy UniFirst Corp. after making an offer earlier this year that valued the uniform maker at about $5.3 billion.

Cintas said it was unable to engage UniFirst in “substantive” discussions after sending a proposal to its board offering $275 per share in cash in January. “We do not believe further discussions are warranted at this time,” Cintas said in a statement.

UniFirst shares fell 10% in extended trading at 4:24 p.m. in New York. Cintas was little changed.

To contact the reporter on this story:
Michelle Fay Cortez in Washington at mcortez@bloomberg.net ...