Cintas Terminates Discussions with UniFirst
Cintas (CTAS) has announced the termination of discussions with UniFirst (UNF) regarding a proposed acquisition. The offer valued UniFirst at $275.00 per share in cash, representing a 46% premium over UniFirst's ninety-day average closing price as of January 6, 2025.
According to CEO Todd Schneider, despite several weeks of engagement with UniFirst and its advisors, the companies were unable to reach an agreement on key transaction terms. Cintas maintains that the proposed deal would have delivered significant value for both customers and shareholders.
Moving forward, Cintas will continue its growth strategy through disciplined M&A activities and investments in technology initiatives to drive innovation and efficiency.
Cintas (CTAS) ha annunciato la cessazione delle trattative con UniFirst (UNF) riguardo a una proposta di acquisizione. L'offerta valutava UniFirst a $275,00 per azione in contante, rappresentando un 46% di premio rispetto al prezzo medio di chiusura di novanta giorni di UniFirst al 6 gennaio 2025.
Secondo il CEO Todd Schneider, nonostante diverse settimane di impegno con UniFirst e i suoi consulenti, le aziende non sono riuscite a raggiungere un accordo sui termini chiave della transazione. Cintas sostiene che l'accordo proposto avrebbe fornito un valore significativo sia per i clienti che per gli azionisti.
Guardando al futuro, Cintas continuerà la sua strategia di crescita attraverso attività di M&A disciplinate e investimenti in iniziative tecnologiche per promuovere innovazione ed efficienza.
Cintas (CTAS) ha anunciado la terminación de las discusiones con UniFirst (UNF) sobre una propuesta de adquisición. La oferta valoraba a UniFirst en $275,00 por acción en efectivo, representando un 46% de prima sobre el precio de cierre promedio de noventa días de UniFirst al 6 de enero de 2025.
Según el CEO Todd Schneider, a pesar de varias semanas de compromiso con UniFirst y sus asesores, las empresas no pudieron llegar a un acuerdo sobre los términos clave de la transacción. Cintas sostiene que el acuerdo propuesto habría proporcionado un valor significativo tanto para los clientes como para los accionistas.
De cara al futuro, Cintas continuará su estrategia de crecimiento a través de actividades de M&A disciplinadas e inversiones en iniciativas tecnológicas para impulsar la innovación y la eficiencia.
Cintas (CTAS)는 UniFirst (UNF)와의 인수 제안에 대한 논의 종료를 발표했습니다. 이 제안은 UniFirst의 가치를 주당 $275.00로 평가하며, 이는 2025년 1월 6일 기준으로 UniFirst의 90일 평균 종가보다 46% 프리미엄을 나타냅니다.
CEO Todd Schneider에 따르면, UniFirst와 그 자문사와의 여러 주간의 협상에도 불구하고, 양사는 주요 거래 조건에 대한 합의에 도달하지 못했습니다. Cintas는 제안된 거래가 고객과 주주 모두에게 상당한 가치를 제공했을 것이라고 주장합니다.
앞으로 Cintas는 혁신과 효율성을 추진하기 위해 신중한 M&A 활동과 기술 이니셔티브에 대한 투자를 통해 성장 전략을 계속할 것입니다.
Cintas (CTAS) a annoncé la fin des discussions avec UniFirst (UNF) concernant une proposition d'acquisition. L'offre évaluait UniFirst à 275,00 $ par action en espèces, représentant une prime de 46% par rapport au prix de clôture moyen d'UniFirst sur quatre-vingt-dix jours au 6 janvier 2025.
Selon le PDG Todd Schneider, malgré plusieurs semaines d'engagement avec UniFirst et ses conseillers, les entreprises n'ont pas pu parvenir à un accord sur les termes clés de la transaction. Cintas soutient que l'accord proposé aurait apporté une valeur significative tant pour les clients que pour les actionnaires.
À l'avenir, Cintas continuera sa stratégie de croissance grâce à des activités de fusion et acquisition disciplinées et à des investissements dans des initiatives technologiques pour favoriser l'innovation et l'efficacité.
Cintas (CTAS) hat die Beendigung der Gespräche mit UniFirst (UNF) bezüglich eines vorgeschlagenen Erwerbs bekannt gegeben. Das Angebot bewertete UniFirst mit 275,00 $ pro Aktie in bar, was einem 46% Aufschlag gegenüber dem durchschnittlichen Schlusskurs von UniFirst über die letzten neunzig Tage am 6. Januar 2025 entspricht.
Laut CEO Todd Schneider waren die Unternehmen trotz mehrerer Wochen des Engagements mit UniFirst und dessen Beratern nicht in der Lage, sich auf die wesentlichen Transaktionsbedingungen zu einigen. Cintas ist der Ansicht, dass das vorgeschlagene Geschäft sowohl für Kunden als auch für Aktionäre erheblichen Wert geliefert hätte.
In Zukunft wird Cintas seine Wachstumsstrategie durch disziplinierte M&A-Aktivitäten und Investitionen in Technologieinitiativen fortsetzen, um Innovation und Effizienz voranzutreiben.
- Company maintains strong position for future growth through M&A and technology investments
- Demonstrates disciplined approach to acquisitions by walking away from unfavorable terms
- Failed acquisition attempt of UniFirst
- Lost opportunity for business expansion and market consolidation
- Time and resources spent on unsuccessful merger discussions
Todd Schneider, President and Chief Executive Officer of Cintas, said, “We have engaged with UniFirst and its advisors over the past several weeks in an effort to reach a mutual agreement regarding a transaction that we believe offers tremendous value for customers and shareholders. While we continue to believe in the merits of a transaction, we were unable to have substantive engagement with UniFirst regarding key transaction terms. We do not believe further discussions are warranted at this time.”
“Cintas will continue to execute our proven growth strategy through disciplined M&A and investment in ongoing technology initiatives to drive innovation and efficiency. With Cintas’ talented team, differentiated culture, and superior products and services, we remain well-positioned to create meaningful value for our shareholders and all stakeholders.”
About Cintas
Cintas Corporation helps more than one million businesses of all types and sizes get Ready™ to open their doors with confidence every day by providing products and services that help keep their customers’ facilities and employees clean, safe and looking their best. With offerings including uniforms, mats, mops, restroom supplies, first aid and safety products, fire extinguishers and testing, and safety training, Cintas helps customers get Ready for the Workday®. Headquartered in
View source version on businesswire.com: https://www.businesswire.com/news/home/20250324261818/en/
Investors: J. Michael Hansen, Executive Vice President & Chief Financial Officer – 513-972-2079;
Jared S. Mattingley, Vice President - Treasurer & Investor Relations - 513-972-4195
Media: Bryan Locke/Lindsay Molk, FGS Global – cintas@fgsglobal.com
Source: Cintas Corporation
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