Cintas Corp. is in advanced talks to buy UniFirst Corp., according to people familiar with the matter, setting itself up to clinch a years-long pursuit of the rival uniform maker. UniFirst shares rose as much as 17%.
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A deal could be announced as soon as next week, said the people, who asked to not be identified because the discussions are private. Bloomberg News reported last month that the companies had begun active discussions, after Cintas resubmitted a $275-a-share takeover offer in December.
The companies are currently discussing a price that would exceed the $275-a-share offer, the people said. ...
