InsideArbitrage Potential Deal Alert: France’s Elis Has Bid For US Uniform Supplier Vestis (VSTS)

POTENTIAL DEAL DETAILS

Reuters reported that French workplace supplies provider Elis SA has approached Vestis (VSTS) with an acquisition offer.

Vestis Corporation Investor Relations

Elis SA Investor Relations

Update(s):

September 6, 2024: Elis confirms it has made a preliminary approach to Vestis (VSTS) regarding a potential acquisition.

September 9, 2024: Vestis (VSTS) confirmed that it received a preliminary inquiry from Elis SA regarding a potential transaction involving the company.

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.

December 10, 2024: Advent International and Apollo Global Management (APO) are among the buyout firms exploring a potential acquisition of uniform supplier Vestis (VSTS). Private equity firm Clayton Dubilier & Rice has also expressed interest in bidding for Vestis. The potential acquirers submitted initial bids for Vestis in recent weeks.

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