Unifirst shares surge 17.42% after-hours as Cintas resubmits $275/share takeover offer.

UniFirst Corp. (NYSE:UNF) surged 17.42% in after-hours trading following reports that the company is in active acquisition discussions with Cintas Corp. (NASDAQ:CTAS). The potential $275-per-share takeover offer, resubmitted in December, represents a significant premium to UniFirst’s Monday closing price of $199.84, driving strong pre-market gains. This marks a renewed effort by Cintas, which had previously withdrawn a similar bid in 2023 due to lack of engagement. UniFirst’s CEO acknowledged the proposal during a recent earnings call, stating the board is evaluating the offer’s merits. The renewed talks, after years of intermittent attempts, have intensified speculation about a deal, despite preliminary stages and unresolved details. The stock’s sharp rise reflects investor optimism over a potential premium acquisition by its larger rival.