Cintas Makes Another Attempt to Buy Out Rival UniFirst

Cintas Corp. proposed a renewed takeover bid of UniFirst Corp. worth about $3.96 billion in equity in another attempt to buy out the rival uniform maker.

The $275-a-share cash offer comes nearly nine months after Cintas said it had been unable to engage UniFirst in “substantive” discussions after an earlier same-price offer in January. Cintas said its new bid implies a total value of about $5.2 billion. It represents a 62% premium to the stock’s last closing price after shares tumbled in the wake of the last offer being rebuffed in March.

UniFirst was up 38% at 8:16 a.m. in ...