Shares of UniFirst Corporation (UNF) climbed after the company agreed to be acquired by Cintas Corporation in a deal valued at about $5.5 billion.
The stock is currently trading at $275.75, up $17.61 or 6.82%, on the NYSE. It opened at $258.81 after closing the previous session at $258.14. The stock has traded between $147.66 and $278.09 over the past 52 weeks.
Under the terms of the agreement, UniFirst shareholders will receive $155.00 in cash and 0.7720 shares of Cintas stock for each UniFirst share they own, implying a total value of $310.00 per share based on Cintas' March 9 closing price.
The transaction carries an enterprise value of about $5.5 billion and represents roughly 8.0x trailing 12-month EBITDA, including approximately $375 million in expected operating cost synergies.
The boards of both companies unanimously approved the deal, which is expected to close in the second half of 2026, subject to regulatory approvals and UniFirst shareholder approval. Entities affiliated with the Croatti family, which control about two-thirds of UniFirst's voting power, have agreed to support the transaction.
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