Cintas Corporation has agreed to buy UniFirst Corporation in a deal worth $5.5 billion. This is more than four years after Cintas first bid for the company, which supplies uniforms and cleaning products. As part of the acquisition, UniFirst shareholders will receive $155 in cash and 0.7720 shares of Cintas stock for each of their shares, valued at a total of $310 per share. The deal is part of Cintas’s ongoing efforts to expand its product offerings and services.
Source: https://www.wsj.com/business/deals/cintas-to-acquire-unifirst-in-deal-worth-310-per-share-4b8f74ce