Core Insights - Cintas has renewed its bid for UniFirst at $275 per share, representing a 62% premium over UniFirst's closing price prior to the announcement [1][2] - Following the news, UniFirst shares surged over 16% to approximately $198, while Cintas shares increased by about 2% to just under $192 [1] Bid Details - The new proposal includes a substantial reverse termination fee of $350 million to alleviate regulatory concerns, indicating Cintas's commitment to securing the deal [2][3] - Cintas had previously attempted to acquire UniFirst in January but faced regulatory hurdles, leading to the termination of negotiations in March [2] Regulatory Confidence - Cintas has stated that it has made significant progress on the regulatory front and is confident in obtaining the necessary approvals for the transaction [3] - CEO Todd Schneider emphasized the potential benefits of the merger for customers, employee-partners, and shareholders [4]

Cintas, a maker of workplace products, is offering $5.2 billion for smaller uniform supplier UniFirst. - Erik McGregor/LightRocket/Getty Images Cintas, a big maker of workplace products, has submitted another offer to acquire smaller uniform supplier UniFirst, showing no signs of giving up after nearly four years of failing to get a deal done. This time, it is bidding $5.2 billion and vowing to make sure the transaction clears any regulatory hurdles by including a sizable break fee to sweeten the deal. ...