Cintas $275 per share takeover offer turned down by UniFirst, WSJ reports

Cintas (CTAS) made a $5.1B offer to buy smaller uniform supplier UniFirst (UNF), but this bid has been rebuffed multiple times, according to The Wall Street Journal’s Lauren Thomas. Cintas proposed acquiring all of UniFirst’s outstanding common and Class B shares for $275 apiece, in cash, or an equity value of about $5.1B, according to The Journal. The total deal value is roughly $5.3B, the letters delivered to UniFirst’s board say, the Journal added.