MergerJun 12, 2026, 08:16 AM
UniFirst Shareholders Approve Cintas Acquisition; FTC Issues Second Request
AI Summary
UniFirst Corporation announced that its shareholders overwhelmingly approved the pending acquisition by Cintas Corporation at a special meeting held on June 11, 2026. Over 99% of the votes cast were in favor of the merger agreement. Shareholders will receive $155.00 in cash and 0.7720 shares of Cintas stock for each UniFirst share. Despite the shareholder approval, the FTC has issued a Second Request for additional information, extending the HSR Act waiting period. The company still expects the transaction to close in the second half of 2026.
Key Highlights
- UniFirst shareholders overwhelmingly approved the acquisition by Cintas Corporation.
- Over 99% of votes cast favored the merger agreement, representing approximately 95% of all outstanding shares.
- The merger agreement was approved by shareholders on June 11, 2026.
- UniFirst shareholders will receive $155.00 cash and 0.7720 shares of Cintas stock per UniFirst share.
- The FTC issued a Second Request for additional information regarding the merger review.
- The transaction is expected to close in the second half of calendar 2026, subject to closing conditions and regulatory approvals.
Price Impact
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