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POTENTIAL DEAL DETAILS
| Stock | UniFirst Corporation | Symbol | UNF |
| Date Announced | 10/03/2024 | Source | Bloomberg |
| Type | News Report |
Bloomberg reported that Elis SA made an informal takeover proposal to U.S. peer UniFirst Corp. (UNF). Massachusetts-based UniFirst reached out to Elis to gauge its appetite for a deal after Elis’s takeover approach to rival Vestis Corp. (VSTS) became public last month.
The French company made a non-binding proposal for UniFirst, whose board rejected it in recent days, and the companies aren’t currently in talks. It remains to be seen whether the interest in UniFirst, which is valued at $3.7 billion, will be revised.
UniFirst Corporation Investor Relations
Elis SA Investor Relations
Update(s):
October 4, 2024: Elis announced it held conversations with Vestis (VSTS) and UniFirst (UNF). Both discussions have been terminated, as neither would have allowed Elis to complete a transaction that would be in line with the company’s strict financial discipline.
October 4, 2024: UniFirst (UNF) announced that it contacted Elis to better understand the rumors about its potential entry into the U.S. market, and not with the intent of soliciting an offer. Those discussions have ended and, at this time, UniFirst does not anticipate holding future discussions with Elis.
Disclaimer: Our intent with this section of the website is to present potential deals that appear to be in the pipeline. These potential deals are ones where i) the company has indicated that it is "seeking strategic alternatives", ii) there has been an unsolicited bid for a company as mentioned in a press release by the company or iii) news about the deal has been published by a leading news organization like The Wall Street Journal, The New York Times, Bloomberg, Financial Times, The Washington Post, Reuters and The Associated Press. As best as possible we will try to avoid baseless rumors. There is a high probability that many of these potential deals may not materialize and if they do, the terms of the deal may be different from what was initially reported. Please do your own due diligence before buying or selling any securities mentioned on this website. We do not warrant the completeness or accuracy of the content or data provided.